Paris-based Trace For Good bags €3.5M to help companies better manage traceability and compliance data 

Paris-based Trace For Good, a company specialising in the traceability of consumer goods supply chains, announced on Tuesday that it has secured €3.5M in funding.

The latest funding round was led by Hi inov Dentressangle and Ankaa Ventures, alongside CS Ventures and historical investors, including Seed4soft.

With this funding, the company will expand its consumer goods activities in Europe, partnering with leaders Intertek in quality assurance and certification.

“Thanks to our platform, we enable brands to achieve full supply chain traceability while drastically reducing the manual effort for data collection and verification, for them and their suppliers!” says Léa Gillet, co-founder of Trace For Good.

“With this funding, we will not only accelerate our business growth but also expand our technological leadership to meet the growing demands for traceability,” adds Gillet.

Trace For Good: Tracing of consumer goods supply chains

Founded in 2022 by Léa Gillet and Laura Bréban, Trace For Good helps companies manage traceability and compliance data with an easy-to-use SaaS platform.

The platform gathers product and supplier information from the supply chain, making it simpler to track and verify compliance and risk management data while reducing social and environmental impacts.

The company helps brands meet regulatory requirements (AGEC, EU Deforestation Regulation EUDR) while guiding them towards more sustainable production models and building new desirability models.

The company’s solution is based on two platforms:

• The Client Platform helps brands and retailers track their products from raw materials to the final item. It uses intelligent data flows to centralise and verify information from suppliers, external databases, or other recognised certifications.
• The Traceability Platform, dedicated to suppliers, enables them to quickly and easily respond to customer requests and consolidate responses. By using AI, information is pre-filled as much as possible and inconsistencies are detected in advance to ensure maximum accuracy of responses while facilitating data collection through personalised interfaces.

The French company currently targets the French textile market with customers such as IKKS, Fusalp, and Courir.

The investor

Hi inov is a pan-European B2B venture capital fund, created by entrepreneurs for entrepreneurs.

The VC fund supports high-growth European companies that contribute, through their innovative digital technologies, to the transformation of the industry and service sectors.

With over €350M in capital from entrepreneurs, medium and large companies, and institutional investors, it places sustainability and energy efficiency of technical architectures at the heart of its investment and support criteria.

Its portfolio of around thirty European companies includes Deepki, Platform.sh, 360Learning, Agorapulse, Ninox, Awork, and Kenjo.

Wolfgang Krause, Managing Partner of Hi inov, says, “Trace For Good is positioned in a rapidly growing market. Regulatory pressure in Europe is pushing brands to adopt solutions that guarantee the traceability and compliance of their products. We are delighted to support this mission-driven company and accompany the team in its ambitious European expansion project. This investment perfectly aligns with our desire to make a significant place for climate tech in the portfolio of our new Hi inov 3 fund.”