FreeBorders, which develops sourcing technologies and an online trading network for the fashion, apparel, design, and fabric markets, said it raised $25m in its second round of funding.

The round was led by the Internet Capital Group (ICG) and included investments from Fountain Set Holdings, Crystal Group, Luen Thai, TAL Apparel, Orient Holding International, and Grupo Mina. FreeBorders said it will use the funding for product development.

Freeborders, which is an IBM partner, is the latest trading exchange to set up shop on the web. It will use proprietary technology and strategic global partnerships to increase its members profits and speed to market. It operates three networks: the Private Trading Network; the Public Trading Network; and the Textile and Component Trading Network.

For more information, visit the company website at