SupplyCompass, the UK based design-to-delivery sourcing platform that is part vetted manufacturer network and part production management tool for fashion and interiors brands, has secured GBP1.5m (US$1.8m) funding from venture capital investor Episode 1.
The company says it will use the investment to develop its technology and expand its curated marketplace of best-in-class international 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 aims to streamline the buying process by pairing brands with verified manufacturers and providing a central online hub that offers all the tools for production and ensures the entire process is embedded with transparency and integrity.
“Current sourcing methods aren’t fit for brands of the future; they’re offline, inefficient and fragmented,” explains Gus Bartholomew, SupplyCompass CEO and co-Founder.
“Technology is needed for global supply chains to progress and become faster, more efficient and more sustainable. At SupplyCompass we see the key to success lying in rethinking existing sourcing methods, with better collaboration, innovation and technology at the core. Our vision is to become the leading sourcing software for the pioneering fashion and interiors businesses of the future, and this funding from investors Episode 1 will help us to do just that.”
just-style first wrote about Supplycompass prior to its launch in early 2018: Sourcing platform pairs brands and manufacturers. And co-founder Flora Davidson has shared how creating an ethical brand using sustainable, responsibly sourced raw materials depends on greater transparency and collaboration between all the companies in the supply chain.
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