TrusTrace has carried out a directed issue of shares to Stiftelsen Industrifonden, Fairpoint Capital AB, BackingMinds Invest AB and Fashion for Good B.V. Through the issue, TrusTrace receives approximately USD 6 million.
Founded in 2016, TrusTrace offers a market-leading platform for supply chain transparency and traceability within Fashion and Retail. The TrusTrace platform is built on AI, Blockchain and bots, and through its open architecture integrates seamlessly with clients and supplier systems, as well as those of third parties and other relevant stakeholders. With more than 8,000 suppliers, 250,000 products and goods worth over USD 12 billion tracked in the platform, it is a business critical platform for companies who see sustainability not just as a passing fad but fundamental to their DNA. TrusTrace is headquartered in Stockholm, Sweden, with offices in India and France.
TrusTrace has received significant international attention and has or is participating in several international accelerator programs, notably LVMH (FR), Retail Plug & Play (FR), Fashion for Good (NL), Bloomer (SE) as well as the Tillväxtverkets Access Germany and Access US programs. The company has also received numerous awards within sustainability, including the Nordea Social Impact Award (2019), the Loomish award (2020), and latest the Solar Impulse label (2021) which is given only to companies which adhere to the highest standards in sustainability and circular economy.
Lindahl acted as legal adviser to TrusTrace. Lindahl’s team consisted mainly of Henrik Nobel and Nicklas Bexelius.
For further information about the investment, please see the official press release by TrusTrace.