USA: Textrade.com Completes $10 Million Financing To Expand Services
Textrade.com (formerly Global Textile Network), the Internet-based business-to-business textile trading and information marketplace, has raised $10 million in venture financing for the expansion of its online service. The investment was led by European venture capital firm ETF Group and Draper Fisher Jurvetson Gotham Ventures (DFJ Gotham). The investment follows an initial $1.5 million seed investment by the company's founders.The new Textrade.com service will enable Textrade.com's 5,100 member companies around the world to source and sell a wide range of fiber, yarn and unfinished fabric in a secure online transaction environment. The service also will provide members with access to logistics services, financing services and comprehensive information including global and regional textile news, unique statistical data, and analysis from textile industry sources around the world. Scheduled to launch in August, the new service is being developed by Textrade.com together with Computer Sciences Corporation (CSC), a leading developer of business-to-business online marketplaces.According to Textrade.com chief executive officer Robert Cox, Jr, "this financing advances our goal to give the worldwide textile industry what it is now ready for: a full-service Internet trading and information resource that enables members to expand their business, improve productivity and increase their information access with unprecedented convenience." Textrade.com chairman Jeffrey Silver added: "we are extremely pleased to be joining forces with ETF Group and DFJ Gotham; their global reach, access to innovative technologies and expertise in building market-leaders are a significant advantage for the Textrade.com service and our members."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
- Fashion fit for the future – strategies for speed
- How PVH is paving the way for connected apparel
- Digitisation to drive new apparel-making models
- Pakistan industry seeks help to kickstart exports
- Under Armour Lighthouse will disrupt production
- US Q3 in brief – Columbia Sportswear, HanesBrands
- Primark sourcing chief Gordon steps down
- Child refugees found in Turkey apparel factories
- Chinese manufacturer invests $20m in US facility
- Managing change in the move to new tech tools
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022
- Apparel (GLOBAL) - Industry Report