TRUSTRACE
TrusTrace, a Stockholm-based software company with a market-leading platform for supply chain transparency and product traceability within the fashion, food and retail industries, today announces a $6 million growth investment led by Industrifonden and Fairpoint Capital, together with previous investors BackingMinds, and with support from Fashion for Good.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211014005112/en/
The new capital will be used to further accelerate global expansion, expand product development, and strengthen the team to continue bringing supply chain transparency to brands who want to know what they sell, and to consumers who care about what they buy.
Founded in 2016, TrusTrace is a SaaS provider that empowers fashion, food and retail brands to fully understand and take responsibility for the social and environmental impact of their supply chains. The company currently has a portfolio of more than 40 customers, including well-known brand and sustainability leaders like Fjällräven, Filippa K, Zalando, Decathlon and Coop.
“TrusTrace enables product-level traceability and supply chain transparency to drive better, more sustainably-conscious and socially-responsible sourcing decisions,” said Shameek Ghosh, CEO and Co-Founder of TrusTrace, and a veteran within the global software industry from companies like HCL. “With this latest funding round, we will continue leveraging cutting-edge technology and the best minds in the industry to achieve positive, restorative change for people and the planet.”
Increasing pressure from international regulations, investor scrutiny and consumer demand is accelerating the need for green tech and sustainability solutions – with the market expected to reach $58 billion by 2027.
Meeting this growing demand, TrusTrace is uniquely positioned to become the key operating platform for companies aiming to solve the major sustainability challenges in supply chains – specifically risk management, compliance, product claims support, footprint calculations and the ability to confidently and easily share data with eco-conscious consumers about product origin and impact.
The TrusTrace platform is built on AI, Blockchain and BOTS. Through its open architecture, the platform integrates seamlessly with retailer, manufacturer and supplier systems, as well as those of 3rd parties such as certification agencies, lifecycle datasets and other sustainability solution providers. With more than 8,000 suppliers, 250,000 products and over $12 billion worth of goods tracked on the platform, TrusTrace is a business-critical platform for companies who see sustainability not just as a passing fad but fundamental to their DNA.
Rebecka Löthman Rydå, Investment Manager at Industrifonden said, "As an investor, we seek out the most transformative ventures to invest in; those with the power to have a meaningful impact on society. Supply chain traceability and transparency are critical for retailers to become sustainable. That’s why we are very excited to partner with TrusTrace – the best platform on the market. With a mission to increase sustainability, TrusTrace can make a real and positive impact through their technology and we are therefore proud to support their journey to become the first impact unicorn."
Hadar Cars, Investment Director at Fairpoint Capital said: “We have been truly impressed by TrusTrace‘s impact in the fast-growing market for supply chain transparency. Consumers, businesses and regulators alike are demanding solutions for sustainable practices, which have evolved from a ‘nice-to-have’ to a ‘must-have’ for leading companies. With strong customer traction, an enterprise-scale solution, and a world-class team, we are confident that TrusTrace will be a category leader in its market.”
TrusTrace CEO Shameek Ghosh concluded: “Industrifonden and Fairpoint Capital are the perfect partners to accelerate our growth and drive the global expansion of our sustainable platform. We are also thrilled to continue collaborating with Backing Minds, who were our first investors, and Fashion for Good. Together with our partners, we can continue helping brands discover suppliers and map the complete supply chain from source to end-product.”
TrusTrace has received significant international attention and has or is participating in several international accelerator programs, notably LVMH (FR), Retail Plug & Play (FR), Fashion for Good (NL), Bloomer (SE) as well as the Tillvaxtverkets Access Germany and Access US programs. The company has also received numerous awards within sustainability, including the Nordea Social Impact Award (2019), the Loomish award (2020), and latest the Solar Impulse label (2021) which is given only to companies which adhere to the highest standards in sustainability and circular economy.
For more information, visit www.trustrace.com . For hi-res photography, click here .
About TrusTrace
Founded in 2016, TrusTrace offers a market-leading platform for supply chain transparency and traceability within Fashion and Retail, which has quickly become the foundation for some of the most ambitious sustainability programs in the world. Headquartered in Stockholm, Sweden, with offices in India and France. Please visit www.trustrace.com to learn more.
About Fairpoint Capital
Fairpoint Capital is a Swedish B2B technology investment fund. Our investment focus is unique technologies and business models that are highly scalable. We look for companies in early growth stages with products that address global markets with strong growth drivers. Investments are focused towards the Nordic region. www.fairpoint.se
About Industrifonden
Industrifonden is a Nordic venture capital investor based in Stockholm. Industrifonden invests in breakthrough technologies and science based innovation – the Industry of Tomorrow. Our portfolio includes companies like Funnel, Oatly and Nextory. For more information, visit www.industrifonden.com
About Backing Minds
BackingMinds is a European venture capital firm founded in 2016 by entrepreneurs Susanne Najafi and Sara Wimmercranz. The investment duo invests in the blind spots of venture capital and so far has 11 tech companies in the portfolio. Their first fund has a paper return of 500%.
www.backingminds.com
About Fashion for Good
Fashion for Good is a global innovation platform based in Amsterdam with a satellite program in Asia. Their programs give promising start-ups the expertise and access to funding they need to grow, while driving pilots and supply chain implementation with partner organizations through their scaling program and foundational projects. The Good Fashion Fund supports manufacturers with access to finance to shift at scale to more sustainable production processes. The organization also holds a consumer facing museum in Amsterdam. www.fashionforgood.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005112/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Estithmar Holding’s Listing on FTSE Mid Cap Index is Effective19.9.2025 17:02:00 CEST | Press release
As of September 18, The Qatar based Estithmar Holding Q.P.S.C. has been included in the FTSE Mid Cap Index following the September 2025 FTSE Global Equity Index Series (GEIS) Semi-Annual Review. Changes will be effective as of COB 18 Sep 2025.This inclusion reflects Estithmar Holding’s growing footprint in both regional and global markets, further strengthening its visibility among international investors and underlining its position as one of the region’s leading diversified public companies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250919701856/en/ Estithmar Holding’s Listing on FTSE Mid Cap Index is Effective (Photo: AETOSWire) The FTSE Russell index is widely tracked by international institutional investors and asset managers, and Estithmar Holding’s inclusion is expected to broaden its investor base globally, resulting in significant investment flows. The move also contributes to improving the financial attractive
LambdaTest Leads with First-to-Market Support for iPhone 17 Series on Real Devices19.9.2025 17:00:00 CEST | Press release
With iPhone 17 Series Testing Now Live, LambdaTest Boosts Developer Productivity and Streamlines Mobile App Testing Processes LambdaTest, the GenAI-native quality engineering platform, has announced the immediate availability of the iPhone 17 Series, including the iPhone 17, iPhone 17 Pro, iPhone 17 Pro Max, and the iPhone Air, on its Real Devices Platform, just hours after the official launch of Apple’s latest lineup. The addition of the iPhone 17 series further enhances LambdaTest’s already robust real device cloud, which spans thousands of iOS and Android devices. This expansion enables comprehensive cross-device and cross-OS testing at scale, ensuring developers can thoroughly test their mobile apps across a diverse range of real-world environments. “Once again, we’re the first to offer the latest iPhone models for real device testing,” said Asad Khan, CEO and Co-Founder of LambdaTest. “This launch is a testament to our commitment to providing the most up-to-date testing solutions
World-renowned Blood Transfusion Congress to Be Held in Yokohama in 202819.9.2025 17:00:00 CEST | Press release
The 2028 International Congress of the International Society of Blood Transfusion (ISBT 2028) will be held in Yokohama from June 4 to June 8, 2028. Organized collaboratively by ISBT and The Japan Society of Transfusion Medicine and Cell Therapy (JSTMCT), this marks the event’s return to Japan after 19 years, following three previous international (1960, 1996) and regional congresses (2009) held in the country. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250919907189/en/ YOKOHAMA JAPAN'S FIRST PORT OF CALL Working in partnership with the City of Yokohama and the Japan National Tourism Organization (JNTO), the Yokohama City Visitors Bureau (YCVB) and PACIFICO Yokohama supported JSTMCT’s successful bid to host ISBT 2028. The decision is testament to Japan’s advanced research capabilities, Yokohama’s convenient access and robust support infrastructure, and PACIFICO Yokohama’s outstanding reputation for hosting international c
OCP Announces Date of Second Quarter and First Half 2025 Earnings19.9.2025 14:30:00 CEST | Press release
OCP S.A. (“OCP” or the “Company”), a global leader in the fertilizer industry, will release its second quarter and first half 2025 results on Friday, September 26, 2025. The results will be available to holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers on the OCP Intralinks portal from 11:00 a.m. EDT, 4:00 p.m. Morocco and London time (GMT+1). OCP senior management will host a conference call to discuss second quarter and first half 2025 results at 12:00 p.m. EDT, 5:00 p.m. Morocco and London time (GMT+1) on Friday, September 26, 2025, for holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers. Eligible parties that have not already registered for access to the Intralinks portal may do so by contacting the Investor Relations Department by emailing g.laraki@ocpgroup.ma. About OCP OCP is a global leader in the fertilizer industry, backed by almost a century’s production history. OCP has exc
GCCA Concrete in Life Global Photography Competition Launches19.9.2025 14:00:00 CEST | Press release
Tens of thousands of entries expected, focusing on concrete's essential role Overall winner of the free-to-enter competition will receive top prize of $10,000 USD With category prizes of $2,500 USD across each theme This year’s Concrete in Life, a popular global photography competition which celebrates the essential role of concrete across the world, has been officially launched. Now in its 7th year, the competition which receives tens of thousands of entries every year from every corner of the world, highlights the sustainability, versatility, beauty and durable presence of the world’s most used material after water. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250919202417/en/ Overall Winner, Concrete in Life 2024/25, Venice Beach Skating by Henrik Hagerup, Venice Beach, Los Angeles, USA Run by the Global Cement and Concrete Association (GCCA), the competition is open to everyone - professionals, amateurs, or anyone with
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom