TrusTrace, a leading global Software-as-a-Service (SaaS) company known for its innovative platform for product traceability and compliance, has recently completed a highly successful funding round, securing a remarkable $24 million growth investment. This significant investment was spearheaded by Circularity Capital, a specialist investor in businesses that promote and embody principles of the circular economy. Existing investors Industrifonden and Fairpoint Capital also participated in the funding round, further solidifying their belief in TrusTrace’s potential.

TrusTrace is renowned for its collaboration with top-tier global brands such as Adidas, Tapestry, and Asics. Through its cutting-edge solutions for traceability and compliance in supply chains, TrusTrace empowers these brands to establish transparent, circular, and fair value chains. With the additional funding, TrusTrace will be able to accelerate its global expansion efforts, strengthen its presence in key markets, drive product innovation, and foster crucial collaborations.

Shameek Ghosh, the co-founder and CEO of TrusTrace, highlighted the increasing adoption of traceability by fashion and textile brands. He emphasized that traceability plays a pivotal role in supporting these brands’ sustainability goals and enabling them to remain competitive amid mounting regulations and consumer pressure. Ghosh sees this new investment as a testament to the fundamental importance of traceability in achieving sustainable transformation.

TrusTrace’s impressive growth in subscription revenue is a testament to the rising demand for traceability solutions in the industry. Since the investment from Fairpoint and Industrifonden in 2021, TrusTrace has experienced an exceptional five-fold increase in subscription revenue over just 27 months.

Anders Brejner, Investment Director at Circularity Capital, underscored the urgency of transitioning from the linear ‘take-make-dispose’ model of production and consumption to a more sustainable and equitable approach. He emphasized that this transformation can only be achieved on a global scale with the support of a robust digital infrastructure that facilitates transparency and traceability across intricate supply chains. Brejner emphasized that TrusTrace stands as a clear industry leader in this field, boasting a strong team, an exceptional solution, an impressive client base, and a perfect alignment with Circularity Capital’s overarching strategy of supporting global leaders within the circular economy.

With this latest round of funding, TrusTrace finds itself in an advantageous position to further propel the adoption of traceability within the fashion and textile industry. By expanding its global reach, enhancing its product portfolio, and fostering collaboration with key stakeholders, TrusTrace intends to cultivate a more sustainable and transparent supply chain ecosystem. As sustainability increasingly becomes a critical factor for consumers and regulators alike, TrusTrace’s platform will play an indispensable role in helping brands achieve their sustainability objectives while remaining competitive in a rapidly evolving market.

Useful links:
1) TrusTrace Official Website
2) Circularity Capital Official Website