Retraced, a Düsseldorf-based company that provides software to help fashion and textile companies digitize their supply chains and manage risks, has raised €15 million in a new financing round. Investment firm Partech led the round, with support from Alante Capital, Alstin Capital, Samaipata and F-Log Ventures, the company announced in a press release.
With the growing emphasis on sustainability within fashion companies, Retraced plays a crucial role in supporting companies in complying with increasingly strict regulations and improving transparency in their supply chains. A particular focus for Retraced is the development of a user-friendly European Digital Product Passport (DPP). This will not only increase transparency for consumers, but also enable fashion companies to better engage their customers in their sustainability efforts.
Retraced software is used by over 150 fashion companies including Desigual, Victoria’s Secret, Pangaia, Tom Tailor and Marc O’Polo, who use the platform of 15,000 suppliers to achieve their sustainability goals and offer responsible products.
The new €15 million funding will be used to further develop and expand the platform with, for example, artificial intelligence (AI) and process automation. Retraced aims to make supply chain sustainability more efficient and effective. These technologies not only help companies to optimize the impact of their supply chains, but also to keep costs under control.
Source: fashionunited.nl
