TRUSTRACE
14.10.2021 09:02:08 CEST | Business Wire | Press release
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
BeOne Medicines and Revolution Medicines Announce Clinical Development and Regional Commercialization Collaboration10.8.2026 12:00:00 CEST | Press release
Clinical collaboration enables novel combinations of select BeOne oncology assets with four Revolution Medicines clinical-stage RAS(ON) inhibitors for RAS-addicted cancersRegional rights agreement provides BeOne with exclusive development and commercialization rights to four Revolution Medicines clinical assets in select Asian markets BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, and Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced a multi-part collaboration including: a clinical collaboration to evaluate drug combinations incorporating select clinical-stage oncology assets from BeOne with any of Revolution Medicines’ four clinical RAS(ON) inhibitors, and a separate regional rights agreement granting BeOne exclusive development and commercialization rights to these Revolution Medicines assets in select Asian markets. Clinical
OpenGate Capital to Acquire Maersk Training, the Global Safety Training and Gas-Safety Services Business of Maersk10.8.2026 08:00:00 CEST | Press release
OpenGate Capital (“OpenGate”), a global private equity firm, announced today that it has signed a definitive agreement to acquire Maersk Training and its subsidiary Maersk H2S Safety Services. The company, a provider of global safety training and gas safety services, is being carved out from A.P. Møller - Mærsk A/S (MAERSK A:CPH), a listed integrated logistics company. Headquartered in Svendborg, Denmark, Maersk Training is a leading global provider of essential safety services that operates through two complementary business segments. The first segment, Maersk H2S Safety Services, is a specialist provider of outsourced hydrogen sulphide and Health, Safety and Environment safety services, which include onsite supervision, monitoring and safety equipment maintenance for customers in high-risk operating environments. The second segment, Training Business, is a global provider of safety training, competency development and simulation, delivered through instructor led, digital and virtual
Ant International’s Bettr Partners with Muslim Pro to Introduce Umrah Financing Service in Malaysia10.8.2026 05:49:00 CEST | Press release
Bettr, a leading provider of inclusive and embedded finance and fintech solutions under Ant International, today announced its partnership with Muslim Pro, a popular Islamic lifestyle app serving over 190 million downloads worldwide, to launch an Umrah financing solution in Malaysia. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260809780047/en/ Ant International's Bettr and Muslim Pro launch an Umrah financing solution in Malaysia to help families better manage their cash flow and spread pilgrimage costs responsibly. The solution is designed for eligible Muslims who have the means to undertake the pilgrimage but prefer to spread its cost over time. This flexibility enables individuals and families to manage their cash flow responsibly, maintain regular savings and preserve sufficient liquidity for emergencies and other financial obligations. The launch marks a significant milestone in Bettr’s Islamic finance initiative and
ICC Arbitral Tribunal Issues Quantum Award for AOP Health in BESREMi® Proceedings7.8.2026 19:48:00 CEST | Press release
An ICC Arbitral Tribunal has awarded AOP Orphan Pharmaceuticals GmbH (“AOP Health”) a total of about EUR 112 Mio in a quantum award issued in the ongoing arbitration proceedings with PharmaEssentia Corp. (“PharmaEssentia”) concerning BESREMi® (ropeginterferon alfa-2b). The award quantifies AOP Health’s damage claims for PharmaEssentia’s intentional breaches at ca. EUR 82 Mio. It also awards AOP Health ca. EUR 31 Mio plus interest as reimbursement for AOP Health overpayments made to PharmaEssentia as a result of excessive pricing in the years 2019-2022. The Tribunal thereby confirmed that PharmaEssentia has been overcharging AOP Health by up to 900% over these years. The Tribunal affirmed AOP Health's valid set-off of the profit-sharing payments amount owed to PharmaEssentia of approximately EUR 17 Mio against AOP Health's substantially exceeding damages claims. This means that AOP Health shall not make any payment to PharmaEssentia. Interest on AOP Health’s claims will continue to accr
Coulson Aviation Canada Acquires 10 Former RCAF Hercules, Doubling C-130H Fleet7.8.2026 19:16:00 CEST | Press release
Canadian-led expansion will build the world’s largest and most capable C-130 airtanker fleet Coulson Aviation Canada, the Canadian division of Coulson Aviation, has acquired 10 former Royal Canadian Air Force CC-130H Hercules aircraft from the Government of Canada. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260807019094/en/ Britton Coulson, left, and Wayne Coulson stand in front of one of 10 former Royal Canadian Air Force CC-130H Hercules aircraft recently acquired by Coulson Aviation from the Government of Canada. At right is a Coulson C-130H outfitted for aerial firefighting with the company’s proprietary RADS-XXL retardant delivery system, capable of carrying up to 4,000 U.S. gallons, or more than 15,000 litres, of water or fire retardant. The acquisition doubles Coulson’s global C-130H fleet to 20 aircraft, expanding its capacity to build the world’s largest C-130 airtanker fleet. The acquisition doubles Coulson’s g
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