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19.01.2024

TrusTrace completes $24 Million Growth Investment

TrusTrace, a SaaS company with for product traceability and compliance, has announced the completion of a (U.S.) $24 million growth investment led by Circularity Capital, a specialist investor in businesses that enable the circular economy, with participation from existing investors Industrifonden and Fairpoint Capital.

According to Shameek Ghosh, CEO and Co-Founder of TrusTrace, the new investment will enable the company to further accelerate its global expansion ambitions by strengthening its presence in key markets, deepening product innovation and expanding collaborations – helping to create a global network where all value chains are traceable, circular, and fair.

Traceability has accelerated in importance and momentum as a key enabler of sustainable transformation, as evidenced by TrusTrace’s five-fold growth in subscription revenue in the 27 months since the previous growth round by Fairpoint Capital and Industrifonden in 2021, preceded by seed funding from Backing Minds in 2019.

TrusTrace, a SaaS company with for product traceability and compliance, has announced the completion of a (U.S.) $24 million growth investment led by Circularity Capital, a specialist investor in businesses that enable the circular economy, with participation from existing investors Industrifonden and Fairpoint Capital.

According to Shameek Ghosh, CEO and Co-Founder of TrusTrace, the new investment will enable the company to further accelerate its global expansion ambitions by strengthening its presence in key markets, deepening product innovation and expanding collaborations – helping to create a global network where all value chains are traceable, circular, and fair.

Traceability has accelerated in importance and momentum as a key enabler of sustainable transformation, as evidenced by TrusTrace’s five-fold growth in subscription revenue in the 27 months since the previous growth round by Fairpoint Capital and Industrifonden in 2021, preceded by seed funding from Backing Minds in 2019.

With more than a billion products now tracked through the platform, TrusTrace has established itself as a business-critical solution for supply chain traceability. TrusTrace customers include adidas, Brooks Running, Tapestry, Asics and many more. TrusTrace also plans to offer its services to regional and mid-size brands in 2024.

10.11.2023

PIP Global Safety selected TrusTrace platform for traceability needs

TrusTrace, a SaaS (Software as a Service) company with a platform for supply chain traceability and compliance data management, announced that PIP Global Safety, a supplier of protective workwear equipment with over 30 brands globally, has selected the TrusTrace platform to support its traceability needs, including evidence collection to prove compliance for the UFLPA (Uyghur Forced Labor Prevention Act).

PIP Global Safety will now leverage verified, real-time data on the TrusTrace platform to provide deeper visibility into the cotton used within the Company’s PPE and workwear products. The partnership will also improve the efficiency of chain of custody data collection for UFLPA compliance – a U.S. regulation that is compelling companies to assess risks in their supply chain and implement processes to ensure that suppliers are not using forced labor.

TrusTrace, a SaaS (Software as a Service) company with a platform for supply chain traceability and compliance data management, announced that PIP Global Safety, a supplier of protective workwear equipment with over 30 brands globally, has selected the TrusTrace platform to support its traceability needs, including evidence collection to prove compliance for the UFLPA (Uyghur Forced Labor Prevention Act).

PIP Global Safety will now leverage verified, real-time data on the TrusTrace platform to provide deeper visibility into the cotton used within the Company’s PPE and workwear products. The partnership will also improve the efficiency of chain of custody data collection for UFLPA compliance – a U.S. regulation that is compelling companies to assess risks in their supply chain and implement processes to ensure that suppliers are not using forced labor.

PIP Global Safety previously managed their supply chain traceability manually; now, TrusTrace will automate the process, changing how data is collected, digitized and shared. “After an extensive vetting process, we selected TrusTrace as our traceability platform because of their ability to provide us with detailed, product-level data that enables us to thoroughly and accurately map our supply chains,” said Nathan McCormick, Senior VP of Operations & Integrated Supply Chain at PIP Global Safety. “While a lot of laws and regulations around due diligence have not yet come into force, we are taking a proactive approach to ensure that we’re ahead of the curve to support our customers’ needs while proactively monitoring for risk of forced labor in our supply chain.”

In addition to supporting regulatory compliance, TrusTrace supports PIP Global Safety’s long-standing sustainability and social responsibility initiatives. PIP Global Safety has pledged to continually identify opportunities to minimize their environmental footprint while still maximizing protection against occupational hazards. This commitment extends to multiple aspects of the business, including Manufacturing Processes, Sustainability-Driven Programs, Recycled Products, Social Sustainability and Future Initiatives.

Photo: Haelixa AG
29.09.2022

Haelixa: Egyptian cotton products traceable thanks to DNA marker

Within the scope of the United Nations Economic Commission for Europe (UNECE) initiative “The Sustainability Pledge”, to improve transparency and traceability for sustainable garment and footwear supply chains, the Swiss company Haelixa traces Egyptian cotton from the source up to premium shirts.

The UNECE and United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT) has been developing over the period 2019-2022 policy recommendations, implementation guidelines, a call to action, and a traceability toolbox including blockchain and DNA tracing solutions, which has been implemented in few different textile supply chains. Haelixa is part of the group of experts that develops such policy recommendations and conducts projects with key industry players to set traceability benchmarks and later develop them into standards.

Within the scope of the United Nations Economic Commission for Europe (UNECE) initiative “The Sustainability Pledge”, to improve transparency and traceability for sustainable garment and footwear supply chains, the Swiss company Haelixa traces Egyptian cotton from the source up to premium shirts.

The UNECE and United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT) has been developing over the period 2019-2022 policy recommendations, implementation guidelines, a call to action, and a traceability toolbox including blockchain and DNA tracing solutions, which has been implemented in few different textile supply chains. Haelixa is part of the group of experts that develops such policy recommendations and conducts projects with key industry players to set traceability benchmarks and later develop them into standards.

Fashion brands are often responsible for complex global value chains and traceability is the needed tool to enable trust, transparency and credible sustainability. The magnitude of the supply chain traceability challenge can be overwhelming for brands, but the UNECE initiative framework facilitates the alignment with suppliers, provides the necessary guidance and the needed tools, with Haelixa as physical traceability provider.

To make the premium shirts traceable, Haelixa has developed a DNA marker to label the raw material, premium Egyptian cotton. The DNA marker has been applied as fine spray to GIZA 96 lint cotton in Borg Al Arab, Egypt and used to produce the finest fabric by Swiss manufacturer Weba. Once applied to the fibers, Haelixa’s DNA markers stay safely embedded into the material and withstand the industrial processing, ensuring traceability from the source until the finished garment. Samples of lint cotton, yarn, and fabric at different steps were verified with a test based on PCR, and the correct DNA marker was detected, thereby enabling the identification of the premium product, of its origin and the specific supply chain. The forensic data obtained were recorded on a blockchain system provided by UNECE. The marked fabric was used to make Hugo Boss cotton dress shirts. As one of the leading premium fashion brands and partner to the UNECE project, Hugo Boss is responsible for a complex global value chain and strives for high sustainability standards and is looking at traceability options.

“In cases like this one, where the material is of the highest quality and the product is shipped from one facility to another for premium processing, adding physical traceability is critical to ensure that the origin, quality and processing claims can be backed up" says Gediminas Mikutis, CTO and co-founder at Haelixa.

Maria Teresa Pisani, Economic Affairs Officer and Project Lead at UNECE, emphasized: “Traceability and transparency are crucial elements to protect environmental, social, and human rights along global value chains. At UNECE, we aim to enhance traceability approaches by exploring new and innovative solutions that help identify and address negative impacts in the fashion industry.”