New funds for traceability start-up Retraced - insidedenim: Glo InsideDenim

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New funds for traceability start-up Retraced

30/11/2022
In a second round of fundraising, traceability start-up Retraced has drawn in a new lead investor, Alstin Capital, with a contribution of €4 million out of a total €6.5 million in new capital otherwise provided by existing investors.

The Dusseldorf-based business has developed a platform for sustainable supply chain management, which it says acts as a central interface between suppliers and companies along the value chain. Current adopters of its system include JOOP, Desigual and Marc O'Polo. The company suggests that upwards of 80 fashion manufacturers use the platform to collect and evaluate data about their supply chains, enabling fair and sustainable manufacturing.

CEO and co-founder Lukas Puender commented: “We clearly see the high demand for a fast and effective response to new legal obligations in our platform usage, which has increased tenfold in the past 12 months. We are using the new capital to develop our platform further and enable more and more automated analyses and evaluations for our partners. By the end of 2023, we want to register around 30,000 suppliers on our platform.”

For the story behind Retraced, see our interview with Mr Puender here.

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