UK company SupplyCompass secures funding of £1.5 mn
July 19, 2019 - United Kingdom
British sustainable sourcing platform SupplyCompass recently raised £1.5 million in seed funding led by venture capital investor Episode 1, with participation of Unicorn Ascension, Ascension Ventures and Andy Chung and Philipp Moehring from AngelList. It plans 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”, SupplyCompass said 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”, co-founder and chief executive officer Gus Bartholomew said.
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. (DS)