Fashion transparency platform tex.tracer has raised €1.5 million in seed funding from ROM InWest, HearstLab, Joanna Invests and angel investors.
- The investment will be used to further develop and automate the platform and grow the business internationally.
The Platform: The SaaS transparency platform enables brands and retailers to comply with upcoming rules and legislations in Europe while reducing the workload of compliance teams and building brand value. It helps companies reach the EU net zero goal by 2050.
- It facilitates companies to become compliant with new rules and legislations such as the EPR, CSRD and Digital Product Passport, which are turning supply chain transparency into a requirement for any business.
- tex.tracer collects verified data by using blockchain technology combined with time- and geolocation stamps and peer-to-peer reviews to collect reliable data from the primary source.
- Taking simplicity to heart, the company allows supply chain partners to use the easy-to-use web app to upload company and product data.
- Consumers can also make educated decisions via the on-product QR code and online store widget, where they can follow the product’s journey.
- Once data is collected, brands and suppliers can improve their value chain on environmental and social level by improving their partners’ social standards and reducing product footprint.
- The tex.tracer platform was founded by Jolanda Kooi and Bart Westerman in 2021.
- With over 50 brands – including MUD Jeans, State of Art, Livera and Fabienne Chapot – and insight into many more suppliers, the company has obtained a substantial marketshare in the Netherlands.
The Context: Digital solutions are a driving force to a more sustainable economy, as data and technology enhance much needed transparency in the fashion industry.
What They Said:
It is our mission to create a better fashion industry. tex.tracer supports companies with verified data so they can work with suppliers to reach their sustainability goals.
— Jolanda Kooi
Co-Founder and CEO
tex.tracer
The future is about verified data and this is what tex.tracer provides. The tex.tracer team has the knowledge and experience to be an important player in the transparency field. Lead investor ROM InWest is pleased to join in the mission of tex.tracer.
— Janet Nieboer
Chief Executive Officer
ROM InWest
A tech company in the fashion industry lead by a mostly female team matches the vision of HearstLab. We love that tex.tracer enables consumers to make educated decisions.
— Kenan Packman
General Manager
HearstLab Europe
The company’s mission to create a better fashion industry is putting the EU Green Deal and net zero goal for 2050 into practice and is led by a female founder. We therefore happily invest in tex.tracer.
— Claire Tange
Founder
Joanna Invests
