TrusTrace, a Stockholm-based global SaaS company specializing in product traceability and compliance, has successfully completed a €22 million growth investment. The funding round was led by Circularity Capital, a specialist investor in businesses promoting the circular economy. Existing investors Industrifonden and Fairpoint Capital also participated in the investment.
The investment will allow TrusTrace to expand its global presence, advance product innovation, and cultivate collaborations. The company aims to create a global network where all value chains are traceable, circular, and fair.
Supply chain traceability is becoming increasingly important for fashion and textile brands in achieving sustainability goals. With mounting regulatory and consumer pressure, businesses recognize the significance of traceability as a critical component of their sustainability efforts. TrusTrace aims to solidify its position as a trusted partner for risk management, compliance assurance, and sustainability enhancement across the fashion industry’s value chains.
TrusTrace has experienced significant growth, with a five-fold increase in subscription revenue over the past 27 months. The company initially received seed funding from Backing Minds in 2019 and subsequently a growth round led by Fairpoint Capital and Industrifonden in 2021.
Established in 2016, TrusTrace is a preferred supply chain partner for global fashion brands seeking to drive sustainable change, manage ESG risks, and ensure compliance. Notable clients include adidas, Brooks Running, Tapestry, and Asics. TrusTrace plans to expand its services to regional and mid-size brands by 2024.
The collaboration with Circularity Capital will support TrusTrace’s growth in the next phase. Circularity Capital’s expertise in the circular economy and extensive international network make them a valuable investor.
The increasing number of global fashion brands aiming to transition to a more sustainable and equitable production and consumption model drives the need for a robust digital infrastructure that ensures transparency and traceability across complex global supply chains. TrusTrace’s solution, team, and client base position the company as a leader in the field and align with Circularity Capital’s strategy to support leaders in driving the circular economy.
With over a billion products tracked on their platform, TrusTrace provides a vital solution for supply chain traceability. The platform offers real-time verified data as materials and finished goods move through the supply chain. TrusTrace seamlessly integrates with systems used by retailers, manufacturers, suppliers, certification agencies, lifecycle datasets, and sustainability solution providers.
In summary, TrusTrace’s successful completion of a €22 million growth investment will drive its global expansion, reinforce product innovation, and foster collaborations. The company’s commitment to creating transparent, traceable, circular, and fair value chains aligns with the evolving sustainability goals of fashion and textile brands worldwide. With Circularity Capital as a strategic partner, TrusTrace is poised to solidify its position as a global leader in enabling sustainable and responsible supply chains.
