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Today: May 16, 2024
January 19, 2024
1 min read

TrusTrace Raises $24 Million to Revolutionize Supply Chain Traceability

TLDR

Supply chain traceability platform TrusTrace has raised $24 million in a growth investment round led by Circularity Capital. The Stockholm-based company provides a software-as-a-service (SaaS) platform that enables brands and suppliers to capture, digitize, and share supply chain and material traceability data. The platform, which focuses on the fashion industry, helps apparel manufacturers comply with sustainability commitments by tracking the source and journey of textiles used in manufacturing. TrusTrace’s customers include major global apparel, footwear, and luxury brands. The funding will be used to accelerate global expansion, deepen product innovation, and expand collaborations.

Key Elements

  • TrusTrace has raised $24 million in a growth investment round, with Circularity Capital leading the funding.
  • The company’s platform offers supply chain traceability and compliance services, focusing on the fashion industry.
  • TrusTrace helps apparel manufacturers track and verify the source and journey of textiles used in manufacturing, enabling compliance with sustainability commitments.
  • The company’s customers include global brands such as adidas, Brooks Running, Tapestry, and Asics.
  • The funding will be used to accelerate TrusTrace’s global expansion, deepen product innovation, and expand collaborations.
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