TrusTrace, a Stockholm-based SaaS startup that deals with supply chain transparency and product traceability within the fashion, food and retail industries, has raised $6M (€ 5.1M) in a Series A round of funding led by Industrifonden and Fairpoint Capital.
The round also saw participation from previous investors BackingMinds along with support from Fashion for Good.
Fund utilisation
The company claims the proceeds from the round will be utilised to speed worldwide expansion, extend product development, and improve the team to continue providing supply chain transparency to brands.
“TrusTrace enables product-level traceability and supply chain transparency to drive better, more sustainably-conscious and socially responsible sourcing decisions,” says Shameek Ghosh, CEO and co-founder of TrusTrace.