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
Curatis: Double-Digit Revenue Growth in 2025 and Major Milestones for Corticorelin Achieved24.3.2026 07:00:00 CET | Press release
Curatis Holding AG (SIX:CURN, “Curatis”) reports business revenues of CHF 10.8m (+57%) for 2025. Curatis AG increased sales in its distribution business organically by 13%, from CHF 9.5m to CHF 10.8m. The net result improved from a loss of CHF 4.3m in 2024 to a loss of CHF 1.4m in 2025. Further key statements In September 2025, our development plan for corticorelin was validated at a meeting with the FDA, enabling Curatis to proceed toward a regulatory submission supporting a pivotal study in patients suffering from peritumoral brain edema (PTBE). In November 2025, Curatis raised CHF 1.2m to progress corticorelin. The cash position as of year end 2025 was comfortable, standing at CHF 1.9m. Recently, Curatis announced a license agreement for corticorelin for Japan with significant milestone payments. Business development and finances In 2025, product sales amounted to CHF 10.3m, while service revenue amounted to CHF 0.5m. On a full year basis, Curatis AG increased revenues in its distri
AAD 2026: Galderma Showcases Latest Evidence Supporting Its Full-Spectrum, Science-Driven Solutions for Diverse Skin Needs24.3.2026 07:00:00 CET | Press release
From its Therapeutic Dermatology portfolio, Galderma will present data on the efficacy and safety of Nemluvio® (nemolizumab) in different patient populations with moderate-to-severe atopic dermatitis, including late-breaking data in pediatric patients, and share four posters on AKLIEF® (trifarotene)1-8 Additional presentations related to Dermatological Skincare will explore how artificial intelligence can identify high-risk factors for sensitive skin and Cetaphil® in different skin types9 Data from Galderma’s Injectable Aesthetics portfolio will also show how its hyaluronic acid injectables, Restylane®, and neuromodulator, RelabotulinumtoxinA*, may address aesthetic needs across the face and décolletage10-14 A total of 22 presentations will reinforce the value of Galderma’s broad and comprehensive portfolio in meeting varied patient needs across Therapeutic Dermatology, Injectable Aesthetics and Dermatological Skincare Galderma (SIX: GALD), the pure-play dermatology category leader, wi
Avanzanite Expands French Operations and Appoints Constance Sabbagh as General Manager24.3.2026 07:00:00 CET | Press release
Avanzanite Bioscience B.V., a rapidly growing commercial-stage European specialty pharmaceutical company focused on rare diseases, today announced its expansion into France, Europe’s second largest economy, and the appointment of Constance Sabbagh as General Manager, France. Following a €32 million Series A investment by MVM Partners announced in November 2025, Avanzanite is scaling its European infrastructure into a single, integrated platform across 32 countries – designed to bring rare disease medicines to patients in every European market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260323639110/en/ Constance Sabbagh, General Manager, France “France is essential to Avanzanite’s European vision,” said Adam Plich, Co-founder and CEO of Avanzanite. “With its leadership in rare disease policy through its National Rare Disease Plans, care networks and scientific innovation, France is one of the most significant healthcare
HJS Foundation Releases JEP Protocol & HJS Framework: The "Black Box" for AI, Enabling Verifiable Human Oversight24.3.2026 04:36:00 CET | Press release
HJS Foundation (Human Judgment Systems Foundation) today released two complementary solutions: the Judgment Event Protocol (JEP) and the Human Judgment Structure (HJS) framework. As a minimalist open standard, JEP generates tamper-proof records of AI decision accountability, just like an aircraft black box; HJS embeds human judgment logic into AI operation processes — together, they transform "human oversight" from a regulatory requirement into a verifiable technical fact, providing an optional technical solution for AI accountability. How to prove that AI decisions (such as loan approvals, medical diagnoses, border screenings, etc.) have undergone human review? JEP generates immutable audit trails of human intervention through four cryptographic primitives — Judge, Verify, Delegate, Terminate; HJS builds a controllable and accountable system to prevent risks such as AI drift and ensure that human judgment guides AI operations. Current systems rely on alterable post-hoc documentation,
Power Integrations Extends Flyback Topology to Enable 440 W, Offering Simpler Alternatives to Resonant Power Designs23.3.2026 22:45:00 CET | Press release
New TOPSwitchGaN ICs more than double power output, reducing system cost, complexity, and design time APEC 2026 – Power Integrations (NASDAQ: POWI), the leader in high-voltage integrated circuits for energy-efficient power conversion, today introduced a breakthrough in flyback topology extending the power range of flyback converters to 440 W—well beyond the limits that traditionally required more complex resonant and LLC topologies. The new TOPSwitchGaN™ flyback IC family unites the company’s groundbreaking PowiGaN™ technology with its iconic TOPSwitch™ IC architecture, reducing complexity, eliminating heat sinks in many cases, shortening design time, improving manufacturability, and lowering total system cost. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260323686299/en/ The new TOPSwitchGaN™ flyback IC family extends the power range of flyback converters to 440 W—well beyond the limits that traditionally required more co
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