TrusTrace Raises $24M in Funding
Summary
The company intends to use the funds to further accelerate its global expansion ambitions by strengthening its presence in key markets, deepening product innovation and expanding collaborations. Led by Shameek Ghosh, CEO, TrusTrace offers a platform for supply chain traceability and compliance, enabling brands and suppliers around the world to standardise how supply chain and material traceability data is captured, digitised and shared. Notable customers include adidas, Brooks Running, Tapestry, Asics and many more of the world’s largest apparel, footwear and luxury brands. Commenting on the news, Shameek Ghosh said: “A growing number of fashion and textile brands are adopting supply chain traceability to support their sustainability goals and ensure competitiveness in the face of mounting regulatory and consumer pressure. The completion of this growth investment is further evidence that businesses see traceability as critical to achieving their sustainability goals.