- Marjorie van Elven |
UK-based sustainable sourcing platform SupplyCompass has raised 1.5 million pounds (approximately 1.7 million US dollars) in seed funding led by early-stage venture capital investor Episode 1, with participation of Unicorn Ascension, Ascension Ventures, and Andy Chung and Philipp Moehring from AngelList.
The company intends 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”, says SupplyCompass 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”, celebrated co-founder and CEO Gus Bartholomew.
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. FashionUnited has recently spoken with co-founder Flora Davidson to learn more about SupplyCompass’ business model. Read the interview here.