TrusTrace, a Stockholm-based SaaS startup that deals with supply chain transparency and product traceability within the fashion, food, and retail industries, raised $6 million (€ 5.1M) in a Series A.
The round was led by Industrifonden and Fairpoint Capital, with participation from previous investors BackingMinds, with support from Fashion for Good.
The company claims the proceeds from the round will be utilized to speed worldwide expansion, extend product development, and improve the team to continue providing supply chain transparency to brands.
Company: SWIN Technologies AB
Raised: $6.0M
Round: Series A
Funding Month: October 2021
Lead investors: Industrifonden and Fairpoint Capital
Additional Investors: BackingMinds and Fashion for Good
Company Website: https://www.trustrace.com/
Software Category: Digital platform for product traceability and supply chain transparency
About the Company: Founded in 2016, TrusTrace is a SaaS startup that enables fashion, food, and retail firms with supply chain transparency and traceability. TrusTrace is a Technology Company that provides solutions to enable Conscious consumerism and Responsible Production and offers a state-of-the-art digital platform for product traceability and supply chain transparency. Using AI and blockchain technology Trustrace brings data transparency to producers who want to know what they sell and to consumers who care what they buy.
Source: https://siliconcanals.com/news/startups/saas-startup-trustrace-raises-5-1m/