Material Exchange, a Stockholm, Sweden-based B2B SaaS-enabled marketplace for the apparel and footwear industry, raised €25 million in Series A funding.
The round was led by Molten Ventures, along with the continued support of previous seed investors including Partech, Inventure, Norrsken, Lyra, and Day One Capital.
This new investment will power the growth of Material Exchange’s product suite, which includes a marketplace for connecting brands with a curated network of suppliers; a Brand Material Management System for organizing materials and collaborating with stakeholders, and 3D scanning for creating accurate visuals.
Company: Material Exchange Ventures AB
Raised: €25.0M
Round: Series A
Funding Month: April 2022
Lead Investors: Molten Ventures
Additional Investors: Partech, Inventure, Norrsken, Lyra, and Day One Capital
Company Website: https://material-exchange.com/
Software Category: Digital Material Platform
About the Company: Founded by Glenister in August 2018 and aims to reimagine how professionals interact with materials. Material Exchange is a B2B SaaS-enabled marketplace for the apparel and footwear industry which is digitizing the material sourcing process and replacing the complex, fragmented relationships that exist between brands and suppliers. Material Exchange consists of a marketplace where buyers can discover materials and corresponding material data, visuals, and sustainability data/certification input from suppliers. Suppliers subscribe to the platform and can upload, manage, and showcase their materials and share all relevant material data in predefined data models. Material Exchange works with the world's leading retail apparel and footwear brands to analyze, optimize, provide transparency and digitize their material supply chains.
Source: https://material-exchange.com/material-exchange-raises-e25-million-to-lead-sustainable-material-sourcing/