In a groundbreaking move for sustainability in fashion, Retraced, a leading platform for supply chain digitization and traceability, has successfully closed a €15 million Series A funding round. This round, spearheaded by Partech, a prominent European tech investment firm, also saw contributions from existing investors including Alante Capital, Alstin Capital, Samaipata, and F-Log Ventures.
Retraced’s innovative platform empowers fashion and textile brands to digitize and trace their supply chains, offering tools to manage compliance data and enhance transparency from raw materials to finished products. This infusion of capital will bolster Retraced’s mission to streamline sustainability management and support global fashion brands in meeting their environmental and regulatory commitments.
The company’s platform, which already boasts over 150 clients including major brands like Desigual, Victoria’s Secret, Pangaia, Calzedonia, Tom Tailor, Marc O’Polo, and Finisterre, allows seamless interaction between over 15,000 suppliers. This extensive network facilitates improved collaboration and compliance in a rapidly evolving regulatory landscape.
The new funding will enable Retraced to enhance its platform through advanced AI and process automation, optimizing supply chain sustainability and reducing the financial impact of compliance management. This is especially pertinent as European regulations, such as the EU Supply Chain Directive (CSDDD), continue to shape industry practices. Retraced’s commitment to integrating a European Digital Product Passport (DPP) will further engage consumers by offering greater transparency and traceability.
Alexander Meyer-Scharenberg, Senior Investment Manager at Alstin Capital, expressed enthusiasm about the investment: “We are excited to continue supporting Retraced on their path to market leadership in textile supply chains as part of their Series A funding. Since our initial investment, the company has shown significant progress, and we expect that the demand for Retraced’s software will further gain momentum following the EU Supply Chain Directive (CSDDD) that came into effect in July.”
Retraced’s CEO and Co-Founder, Lukas Pünder, emphasized the importance of the funding: “This funding round marks a pivotal moment for Retraced. As the regulatory landscape becomes more complex, our mission to simplify sustainability management and make it more effective is more important than ever. With the support of our investors, we are well-positioned to continue developing our platform, empowering fashion brands to meet their sustainability goals and build stronger relationships with their suppliers and their customers.”
Editorial Opinion
Retraced’s latest funding achievement underscores a critical shift in the fashion industry towards greater sustainability and transparency. By providing an advanced platform that integrates AI and process automation, Retraced is not only addressing current compliance needs but also paving the way for future advancements in supply chain management. Their approach reflects a broader industry trend where digital solutions are increasingly becoming central to meeting regulatory demands and consumer expectations.
The fashion industry’s environmental impact has long been a pressing issue, and companies like Retraced are at the forefront of driving meaningful change. Their platform’s ability to connect brands with a vast network of suppliers, while also offering tools to manage and report on sustainability efforts, is both innovative and necessary. As global regulations tighten and consumer awareness grows, Retraced is well-positioned to lead the charge in transforming how fashion brands approach sustainability.
The introduction of the European Digital Product Passport (DPP) further highlights the company’s forward-thinking strategy. By enhancing consumer engagement through transparency, Retraced is not only aiding brands in their compliance efforts but also fostering a more informed and responsible consumer base. This holistic approach is essential for creating a sustainable fashion ecosystem, and Retraced’s progress is a promising indicator of the industry’s potential for positive change.
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