- Marjorie van Elven
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UK-based sustainable sourcing platform SupplyCompass has raised 1.5
million pounds (approximately 1.7 million US dollars) in a series A funding
led by early-stage venture capital investor Episode 1, with participation
of Unicorn Ascension, Ascension Ventures, and Andy Chung and Philipp
Moehring from AngelList.
The company intends to use the funds to develop its technology and
expand its database of sustainable manufacturers. “Particular emphasis will
be placed on the earlier stages of the sourcing process where greater
opportunities lie for establishing sustainable practices, including
manufacturer matching, design development and sampling”, says SupplyCompass
in a press statement.
“Our vision is to help fashion and interior brands make products that
don’t have to cost the earth, and this funding from investors Episode 1
will help us to do just that”, celebrated co-founder and CEO Gus
Bartholomew.
Launched in 2018, SupplyCompass’ platform matches fashion, accessories
and home decor brands with 50 factories adopting sustainable practices in
India, Sri Lanka, Nepal and mainland Europe. FashionUnited has recently
spoken with co-founder Flora Davidson to learn more about SupplyCompass’
business model. Read the interview here.
