Düsseldorf-based Retraced, an innovative platform that helps fashion and textile businesses digitize and improve sustainability management in their supply chains, has raised €15 million in a Series A fundraising round.
Partech led the funding round. Additionally, participation from prior investors Alante Capital, Alstin Capital, Samaipata, and F-Log Ventures. Retraced’s goal of improving sustainability management effectiveness and accessibility for global fashion and textile sector companies will be furthered by this large investment.
Retraced is dedicated to creating cutting-edge solutions that help businesses comply with changing rules in the EU and around the world, improve transparency, and fulfill their sustainability commitments, as sustainability is increasingly becoming a crucial part of brand strategy. The additional funding will be crucial to realizing Retraced’s platform ambition. Retraced seeks to increase supply chain sustainability’s effectiveness and efficiency via AI and process automation. By doing this, the beneficial effects on supply chains will be maximized and the compliance management cost will be controlled. Retraced will also be heavily dependent on its end users.
Lukas Pünder, CEO and co-founder of Retraced stated:
“For Retraced, this fundraising round is a turning point. Our goal to improve sustainability management and make it simpler is more crucial than ever as the regulatory environment gets more complicated. Further, with the backing of our investors, we are well-positioned to continue developing our platform, empowering fashion brands to meet their sustainability goals and forge stronger relationships with their suppliers and customers.”
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With the creation of the most user-friendly European Digital Product Passport (DPP) for customers, Retraced aims to empower consumers and assist fashion and textile businesses in improving their customer interactions.
Retraced is spearheading the shift that will shape fashion for future generations. Retraced is already used by over 150 fashion brands, including Marc O Polo, Finisterre, Desigual, Victoria’s Secret, Pangaia, Calzedonia, Tom Tailor, and many more, to communicate and work together with their 15,000+ suppliers on the platform.
The startup is committed to assisting brands in meeting and surpassing their sustainability goals by ensuring that the materials, production, and marketing of their goods are done so ethically. Thanks to the company’s extensive platform, companies may efficiently negotiate the challenges of supply chain transparency and regulatory compliance with the tools and information it offers.
Alexander Meyer-Scharenberg, Senior Investment Manager at Alstin Capital, said:
“As part of their Series A funding, we are thrilled to continue assisting Retraced in their quest to become the industry leader in textile supply chains. The company has come a long way since we first invested, and we anticipate that the EU Supply Chain Directive (CSDDD), which went into effect in July, will accelerate demand for Retraced’s software even more.”
