Trace For Good raises €3.5 million to accelerate traceability and the creation of trust ecosystems in consumer goods supply chains
Paris / Munich, November 12th, 2024 – Trace For Good, a French company specializing in the traceability of consumer goods supply chains, announces a €3.5 million funding round led by Hi Inov Dentressangle and Ankaa Ventures, alongside CS Ventures and historical investors, including Seed4soft. This funding round aims to continue the development of the company’s software solution and support its commercial expansion in international markets. Trace For Good responds to increasing corporate social responsibility (CSR) regulations, such as the AGEC law, and consumer expectations to receive more detailed product information.
Founded in 2022 by Léa Gillet and Laura Bréban, Trace For Good enables companies to better manage traceability and compliance data through an innovative SaaS platform. The platform centralizes product and supplier data collected along the supply chain, facilitating the tracking and verification of information and documents related to compliance, risk management and the reduction of social and environmental impact. It creates a trust ecosystem that unites the brand, its customers, and its suppliers.
Trace For Good’s solution is based on two platforms:
- The Client Platform allows brands and retailers to track the traceability of their products along the entire supply chain, from the source of raw materials to the final product. This platform uses intelligent data flows to centralize and verify information from suppliers, external databases or other recognized certifications.
- The Traceability Platform, dedicated to suppliers, enables them to quickly and easily respond to customer requests and consolidate responses. By using artificial intelligence, information is pre-filled as much as possible and inconsistencies are detected in advance to ensure maximum accuracy of responses while facilitating data collection through personalized interfaces.
Trace For Good targets the French textile market with customers such as IKKS, Fusalp, and Courir. With this funding, the company is preparing to expand its activities in the consumer goods sector and the rest of Europe, notably through strategic partnerships with players like Intertek, a global quality assurance and certification leader.
The company’s growth is supported by the increasing number of suppliers using the platform, which encourages more brands to join the ecosystem and creates a positive cycle of high-quality data aggregation. By enabling this collaboration across all supply chains, Trace For Good provides brands and ultimately their customers with the necessary knowledge to establish new production and consumption models.
“Thanks to our platform, we enable brands to achieve full supply chain traceability while drastically reducing the manual effort for data collection and verification, for them and their suppliers!” says Léa Gillet, co-founder of Trace For Good. “With this funding, we will not only accelerate our business growth but also expand our technological leadership to meet the growing demands for traceability.”
Valérie Gombart, Co-Founder and CEO of Hi inov, commented: “Trace For Good is positioned in a rapidly growing market. Regulatory pressure in Europe is pushing brands to adopt solutions that guarantee the traceability and compliance of their products. We are delighted to support this mission-driven company and accompany the team in its ambitious European expansion project. This investment perfectly aligns with our desire to make a significant place for climate tech in the portfolio of our new Hi Inov 3 fund.”
About Trace For Good
Founded in 2022 by Léa Gillet and Laura Bréban, Trace For Good is a French company that catalyzes the creation of new trust ecosystems between brands, suppliers, and consumers. Its innovative SaaS platform for traceability and CSR data management enables companies to collaborate in real-time with their suppliers on a single, standardized data source for products, ensuring transparency along the entire value chain. Trace For Good helps brands to meet regulatory requirements (AGEC, EU Deforestation Regulation EUDR) while guiding them towards more sustainable production models and building new desirability models. Based in Paris, Trace For Good is accelerating its expansion in Europe and beyond, with strategic partnerships, notably with Intertek.