22/01/2024 – Finding the right digital backbone

US$ 24 million growth investment to drive global expansion

TrusTrace, a globl SaaS company with a platform for product traceability and compliance, has announced the compleation of a US$ 24m growth investment led by Cirularity Capital, a specialist investor in businesses that enable circular economy.


(From left to right): Madhava Venkatesh, Saravanan Parisutham, Hrishikesh Rajan and Shameek Ghosh. © TrusTrace


The growth investment is here to accelerate TrusTrace´s global expansion. The funding will enhance market presence, deepen product innovation, and foster collaborations, creating a global network for traceable, circular, and fair value chains. Shameek Ghosh, CEO and Co-Founder of TrusTrace, commented: “A growing number of fashion and textile brands are adopting supply chain traceability to support their sustainability goals and ensure competitiveness in the face of mounting regulatory and consumer pressure. The completion of this growth investment is further evidence that businesses see traceability as critical to achieving their sustainability goals. Backed by new funding, TrusTrace will further cement its position as the fashion industry´s trusted partner for identifying and managing supply chain risk, ensuring compliance and driving sustainability across value chains.” The investment reflects the increasing importance of traceability in achieving sustainability goals. Furthermore, TrusTrace, a partner for global fashion brands, plans to extend its services to regional and mid-size brands in 2024. Circularity Capital, specializing in the circular economy, supports TrusTrace´s growth, emphasizing the need for a digital backbone for transparent and traceable global supply chains.