TrusTrace Closes $6 Million Series A Investment to Create More Sustainable, Transparent Supply Chains for Global Brands
14.10.2021 10:00:00 EEST | Business Wire | Press release
TrusTrace, a Stockholm-based software company with a market-leading platform for supply chain transparency and product traceability within the fashion, food and retail industries, today announces a $6 million growth investment led by Industrifonden and Fairpoint Capital, together with previous investors BackingMinds, and with support from Fashion for Good.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211014005112/en/
The TrusTrace platform as seen on a smartphone. (Photo: Business Wire)
The new capital will be used to further accelerate global expansion, expand product development, and strengthen the team to continue bringing supply chain transparency to brands who want to know what they sell, and to consumers who care about what they buy.
Founded in 2016, TrusTrace is a SaaS provider that empowers fashion, food and retail brands to fully understand and take responsibility for the social and environmental impact of their supply chains. The company currently has a portfolio of more than 40 customers, including well-known brand and sustainability leaders like Fjällräven, Filippa K, Zalando, Decathlon and Coop.
“TrusTrace enables product-level traceability and supply chain transparency to drive better, more sustainably-conscious and socially-responsible sourcing decisions,” said Shameek Ghosh, CEO and Co-Founder of TrusTrace, and a veteran within the global software industry from companies like HCL. “With this latest funding round, we will continue leveraging cutting-edge technology and the best minds in the industry to achieve positive, restorative change for people and the planet.”
Increasing pressure from international regulations, investor scrutiny and consumer demand is accelerating the need for green tech and sustainability solutions – with the market expected to reach $58 billion by 2027.
Meeting this growing demand, TrusTrace is uniquely positioned to become the key operating platform for companies aiming to solve the major sustainability challenges in supply chains – specifically risk management, compliance, product claims support, footprint calculations and the ability to confidently and easily share data with eco-conscious consumers about product origin and impact.
The TrusTrace platform is built on AI, Blockchain and BOTS. Through its open architecture, the platform integrates seamlessly with retailer, manufacturer and supplier systems, as well as those of 3rd parties such as certification agencies, lifecycle datasets and other sustainability solution providers. With more than 8,000 suppliers, 250,000 products and over $12 billion worth of goods tracked on the platform, TrusTrace is a business-critical platform for companies who see sustainability not just as a passing fad but fundamental to their DNA.
Rebecka Löthman Rydå, Investment Manager at Industrifonden said, "As an investor, we seek out the most transformative ventures to invest in; those with the power to have a meaningful impact on society. Supply chain traceability and transparency are critical for retailers to become sustainable. That’s why we are very excited to partner with TrusTrace – the best platform on the market. With a mission to increase sustainability, TrusTrace can make a real and positive impact through their technology and we are therefore proud to support their journey to become the first impact unicorn."
Hadar Cars, Investment Director at Fairpoint Capital said: “We have been truly impressed by TrusTrace‘s impact in the fast-growing market for supply chain transparency. Consumers, businesses and regulators alike are demanding solutions for sustainable practices, which have evolved from a ‘nice-to-have’ to a ‘must-have’ for leading companies. With strong customer traction, an enterprise-scale solution, and a world-class team, we are confident that TrusTrace will be a category leader in its market.”
TrusTrace CEO Shameek Ghosh concluded: “Industrifonden and Fairpoint Capital are the perfect partners to accelerate our growth and drive the global expansion of our sustainable platform. We are also thrilled to continue collaborating with Backing Minds, who were our first investors, and Fashion for Good. Together with our partners, we can continue helping brands discover suppliers and map the complete supply chain from source to end-product.”
TrusTrace has received significant international attention and has or is participating in several international accelerator programs, notably LVMH (FR), Retail Plug & Play (FR), Fashion for Good (NL), Bloomer (SE) as well as the Tillvaxtverkets Access Germany and Access US programs. The company has also received numerous awards within sustainability, including the Nordea Social Impact Award (2019), the Loomish award (2020), and latest the Solar Impulse label (2021) which is given only to companies which adhere to the highest standards in sustainability and circular economy.
For more information, visit www.trustrace.com. For hi-res photography, click here.
About TrusTrace
Founded in 2016, TrusTrace offers a market-leading platform for supply chain transparency and traceability within Fashion and Retail, which has quickly become the foundation for some of the most ambitious sustainability programs in the world. Headquartered in Stockholm, Sweden, with offices in India and France. Please visit www.trustrace.com to learn more.
About Fairpoint Capital
Fairpoint Capital is a Swedish B2B technology investment fund. Our investment focus is unique technologies and business models that are highly scalable. We look for companies in early growth stages with products that address global markets with strong growth drivers. Investments are focused towards the Nordic region. www.fairpoint.se
About Industrifonden
Industrifonden is a Nordic venture capital investor based in Stockholm. Industrifonden invests in breakthrough technologies and science based innovation – the Industry of Tomorrow. Our portfolio includes companies like Funnel, Oatly and Nextory. For more information, visit www.industrifonden.com
About Backing Minds
BackingMinds is a European venture capital firm founded in 2016 by entrepreneurs Susanne Najafi and Sara Wimmercranz. The investment duo invests in the blind spots of venture capital and so far has 11 tech companies in the portfolio. Their first fund has a paper return of 500%.
www.backingminds.com
About Fashion for Good
Fashion for Good is a global innovation platform based in Amsterdam with a satellite program in Asia. Their programs give promising start-ups the expertise and access to funding they need to grow, while driving pilots and supply chain implementation with partner organizations through their scaling program and foundational projects. The Good Fashion Fund supports manufacturers with access to finance to shift at scale to more sustainable production processes. The organization also holds a consumer facing museum in Amsterdam. www.fashionforgood.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005112/en/
Contact information
Media:
TrusTrace
Daniel Griffin, Griffin360, Vice President
dan@griffin360.com, +1 845 536 2200
Industrifonden
Rebecka Löthman Rydå, Investment Manager
rebecka.ryda@industrifonden.com, +46 76 126 48 39
Fairpoint Capital
Hadar Cars, Investment Director
hc@fairpoint.se, +46 73 544 5845
BackingMinds
Sara Wimmercranz, Founding Partner
sara@backingminds.com
Fashion for Good
Anne-Ro Klevant Groen, Marketing and Communications Director
anne-ro.klevant.groen@fashionforgood.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Access Advance Announces New Effective Discount Rates for Its Multi-Codec Bridging Agreement, Starting on January 1, 202711.11.2026 21:18:00 EET | Press release
Access Advance LLC today announced that the Licensors of the HEVC Advance and VVC Advance Patent Pools have independently approved a two-step, phased reduction in the effective royalty discount available under the Multi-Codec Bridging Agreement (MCBA) for Licensees of both pools who sign the MCBA on or after January 1, 2027. Licensees that join both the HEVC Advance and VVC Advance Patent Pools and execute the MCBA on or before December 31, 2026, will secure the current MCBA rates, resulting in an effective discount of up to 50%. Licensees that sign on or after January 1, 2027 will receive a reduced discount as further described below. The MCBA is an administrative agreement, not a separate license, that lets Licensees of both HEVC Advance and VVC Advance Patent Pools pay a single, reduced royalty rate for products that include both HEVC and VVC codecs. Today the MCBA rate for a dual-codec product is the same as the VVC Advance single codec product rate; up to 50% of what a Licensee wo
Angel Aligner Unveils Six Innovations for 202711.11.2026 18:23:00 EET | Press release
Angelalign Technology Inc. (6699.HK) (“Angel”), a global clear aligner leader, has unveiled six new clinical innovations, including SuperElastic (MC-SE)* aligner material, a Deepbite Solution for significantly expanded indications, and the Adapt-MATMsystem for next generation growth guidance for young patients. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261110338654/en/ Unveiling Angel's 2027 Innovations. Orthodontists and opinion leaders have long remarked about Angel’s clinical excellence. Orthodontics educator and thought leader Dr. David Sarver said: “In over 4 decades, I’ve never had a parent say I’d be happy if you ensure that my child’s treatment results are average.” Angel is committed to elevating the orthodontic specialty well above the average, especially as more competition and harder referral cases demand outstanding results. Bindu Saran, VP of Product Strategy, added: “Angel was founded by orthodontic profe
Abu Dhabi Future Health Summit Concludes with Research Partnerships and New Programmes to Advance Prevention and Health Innovation11.11.2026 16:58:00 EET | Press release
Held under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, Abu Dhabi Future Health Summit 2026 concluded with agreements and initiatives spanning drug discovery, clinical research, preventive and reproductive health, alongside research and entrepreneurship programmes that will sustain collaboration beyond the Summit. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261111545964/en/ The Summit is the annual flagship gathering of Future Health – A Global Initiative by Abu Dhabi, curated and convened by the Department of Health – Abu Dhabi (DoH) together with Founding Partners PureHealth, M42, Institute for Healthier Living Abu Dhabi (IHLAD) and Mubadala Bio. Held from 20–22 October, the Summit attracted more than 17,300 visitors from 85 countries. It brought together health leaders, researchers, policymakers, investors and inn
De' Longhi Group: Record Results for the Quarter, With Revenue Growing by 7.7% and Net Profit Pertaining to the Group Progressing Significantly by 19%11.11.2026 16:58:00 EET | Press release
The Board of Directors of De' Longhi S.p.A. approved the consolidated results1 for the nine months of 2026. In the nine months the Group achieved: revenues for € 2,621.3 million, up by 6.5% with respect to 2025 (+7.7% at constant currency); an adjusted2 Ebitda of € 455.2 million, equal to 17.4% on revenues (vs. 15.8% with respect to last year); a net income pertaining to the Group equal to € 225.8 million (+20.4% with respect to last year); a positive net financial position equal to € 606.0 million. CEO Fabio de' Longhi commented: “The Group delivered its thirteenth consecutive quarter of organic revenue growth, underscoring our proven ability to capitalize on industry opportunities and respond promptly to market evolution, while ensuring consistent performance across both divisions. The professional business recorded a strong acceleration, spanning all geographies and brands, with revenues growth exceeding 35% for both the quarter and the nine-month period, this against an already par
Starr Chile Assigned A Rating from AM Best11.11.2026 15:30:00 EET | Press release
Starr, a global insurance and investment organization, today announced that the global credit rating agency AM Best has assigned Starr International Seguros Generales S.A. (Starr Chile) a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a+ (Excellent). The outlook for both credit ratings is positive. The rating reflects Starr’s strong balance sheet and Starr Chile’s successful implementation of Starr’s business model. AM Best also cited Starr’s operating performance, a favorable business profile and enterprise risk management as key factors supporting the positive rating. “This strong rating is another important endorsement of Starr’s business model as we continue to build our presence in Latin America,” said Jeff Greenberg, chairman and co-CEO of Starr. “It reflects the financial strength, underwriting discipline and experienced teams that underpin our business around the world, reinforcing the confidence brokers and clients can place in Starr.” Starr
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom