Material Exchange is a Swedish fashion tech startup that claims to deliver the world’s most comprehensive digital material management solution. According to the company, it works directly with the leading retail apparel and footwear brands across the world to analyse, optimise and digitise the material sourcing and development processes. Now, the startup has announced that it has closed €5M funding.
Growth plans on full swing
Material Exchange intends to use the €5M investment led by Norrsken VC, one of the largest European impact tech funds and Partech to accelerate its growth plans. The other investors that participated in the funding round include Day One and Lyra Ventures. Also, its previous investor, Inventure, which led the investment round last year also participated in the fresh funding round.