StageBiz Plan Competition | Alive
Mosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
+20 points in the past 30 days
TrusTrace operates as a technology company offering fashion supply chain traceability. It provides solutions to measure, monitor, and communicate supply chain activities from the origin of the raw material to consumption or post-consumption recycling. The company was founded in 2016 and is based in Stockholm, Sweden.
TrusTrace's Product Videos
ESPs containing TrusTrace
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The packaging authentication tech market addresses the problem of counterfeit products, product diversion, and lack of traceability. Current anti-counterfeiting measures such as bar codes, QR codes, tags, and stickers can be erased, lost, damaged, moved from part to part, and counterfeited themselves. Machine learning-based systems do not help with individual provenance nor do they help with grey …
TrusTrace named as Leader among 15 other companies, including Kezzler, Chronicled, and TruTag Technologies.
Compete with TrusTrace?
Ensure that your company and products are accurately represented on our platform.
Research containing TrusTrace
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned TrusTrace in 1 CB Insights research brief, most recently on Aug 11, 2022.
Expert Collections containing TrusTrace
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
TrusTrace is included in 2 Expert Collections, including Supply Chain & Logistics Tech.
Supply Chain & Logistics Tech
Companies offering technology-driven solutions that serve the supply chain & logistics space (e.g. shipping, inventory mgmt, last mile, trucking).
Packaging & Labeling Tech
Companies providing traditional and tech-enabled packaging and labeling solutions for brands.
Latest TrusTrace News
Apr 13, 2023
The legislators had other concerns. While they hailed the debut of the UFLPA statistics dashboard , they questioned if Congress had “sufficient information and transparency to accurately assess whether implementation of the law comports with congressional intent.” More is needed, they said, to “help Congress, nongovernmental organizations and the public understand the tools, processes and decisions that the agency uses to enforce the law, toward our shared goal of robust implementation of UFLPA.” They asked the Department of Homeland Security to provide greater transparency about the shipment review process and increased clarity on why goods that have been detained because of possible links to Xinjiang or Uyghur labor transfer programs are being cleared without congressional or public reporting. Smith, Merkley et. al. also requested that the Forced Labor Enforcement Task Force (FLETF) update its Entity List according to data compiled by “numerous” reputable civil groups. Smith, Merkley, Rubio and McGovern said that their intention is to “empower the FLETF and CBP to be at the forefront of this critical fight against modern slavery.” The Congressional-Executive Commission on China, they said, will hold a hearing later this month with a panel of trade and labor exerts to examine the UFLPA’s implementation. “We stand ready to work with you in identifying obstacles and addressing challenges in fulfilling the congressional intent in implementing this law, and we appreciate the candor and transparency you have demonstrated to date in briefing Congress,” the lawmakers said. Their inquiries come as a new data-focused alliance wants to make it easier for fashion brands to mitigate forced labor risks in their supply chains. TrusTrace , a product traceability and compliance platform, revealed Wednesday that its customers will now be able to leverage up-to-date insights from data analytics firm Kharon, allowing them to better flag potential supplier risks. This will not only facilitate risk monitoring and evidence collection, the companies said, but it will also promote compliance with the oncoming wave of due-diligence regulation. The timing of the collaboration couldn’t be better, Shameek Ghosh, co-founder and CEO of TrusTrace, told Sourcing Journal. Already, companies are scrambling to stay on the good side of the UFLPA in the United States and the Supply Due Diligence Act in Germany. Looming over the horizon is the European Commission’s Corporate Sustainability Due Diligence Directive , which will come with its own set of demands for anyone doing business in the 27-member bloc. Over the past year, Ghosh’s team has helped at least nine apparel purveyors launch traceability programs, though he cautioned that it could take two to three years before the “full value” of such initiatives materializes. “Things like supplier onboarding [and] material tracking don’t [happen] overnight,” Ghosh said. “You have to put a lot of effort into them.” Adding Kharon’s “enriched” data will help ease things, however. “We’re intelligence professionals,” said Kit Conklin, vice president at Kharon. “We came from the U.S. government; we focus on utilizing the intelligence methodologies that we use within government to detect various types of risks within supply chains and financial flows. So for us, what we specialize in is bringing to bear that expertise and finding and uncovering hidden risks.” Having that “intelligence around the risk itself,” combined with that traceability platform that TrusTrace brings is “quite powerful,” he added. Even so, TrusTrace, which works with boldface names such as Adidas , Decathlon and Filippa K , doesn’t play favorites. It sees itself in the role of an aggregator, one that provides a “single source of truth,” Ghosh said. To wit, Kharon is another node in an ecosystem that includes the Higg Index , the Open Supply Hub , Haelixa and others. The issue of traceability is so vast, he said, that it requires “various different actors and specialists” to tackle it together. “So we already have the base infrastructural data and on top of that there will be layers of different specialists coming in,” Ghosh said. Forced labor isn’t a problem that’s going to go away, either, Conklin noted. And because laws like the UFLPA can fit into the purview of different departments, larger brands are trying to “effectively reorganize” themselves to be able to proactively comply with these new requirements. “There is, I think, a general appreciation across brands, in Europe, in the United States and in Japan, that new regulations are coming online every few months at this point,” he said. “And as a result, there’s a shift strategically to make sure that general counsel has visibility, sustainability has visibility, compliance has visibility, and then obviously, finance has visibility.” With no “silver bullet” for UFLPA compliance right now, it “takes partnerships [and] teams to be able to help brands comply with this strategically,” Conklin said. Read More About
TrusTrace Frequently Asked Questions (FAQ)
When was TrusTrace founded?
TrusTrace was founded in 2016.
Where is TrusTrace's headquarters?
TrusTrace's headquarters is located at Master Samuelsgatan 36, Stockholm.
What is TrusTrace's latest funding round?
TrusTrace's latest funding round is Biz Plan Competition.
How much did TrusTrace raise?
TrusTrace raised a total of $7.27M.
Who are the investors of TrusTrace?
Investors of TrusTrace include Lighthouse MASSIV, BackingMinds, Fashion For Good, Industrifonden, Fairpoint Capital and 6 more.
Who are TrusTrace's competitors?
Competitors of TrusTrace include Textile Genesis and 6 more.
Compare TrusTrace to Competitors
Trace For Good is a traceability and data management software. It enables brands, suppliers, and certifiers to collaborate on a single, standardized source of information. Its mission is to build the foundations for ambitious social and environmental transformation by enabling the textile industry to be more transparent and collaborative. It offers pragmatic tools to turn a brand's sustainability ambitions into measurable actions. It is based in Paris, France.
Retraced uses blockchain technology to collect data and contribute to transparency in the supply chain. The platform offers supply chain management in the fashion and textile industry for the collection, evaluation, and management of supply chain compliance data and connects all parties involved in apparel manufacturing, and provides digitized, standardized, and communication processes. It enables companies to collaborate and gain an overview of their supply chains, trace raw materials back to their origin, anticipate risks, and thus optimize their supply chains in terms of social and environmental aspects. It was founded in 2019 and is based in Dusseldorf, Germany.
Fairly Made provides a software-as-a-service (SaaS) platform for fashion brands to increase the usage of sustainable raw material usage and environment-friendly production. Its solutions include supply chain monitoring, supplier and product data registration, an environmental impact calculator, and customer transparency, The company was founded in 2018 and is based in Paris, France.
Inspectorio provides a cloud-based software-as-a-service (SaaS) platform to help brands, retailers, manufacturers, and suppliers manage risks. Its solutions include digitalized quality, compliance, and production tracking programs. The company was founded in 2015 and is based in Minneapolis, Minnesota.
Farmforce is a Software-as-a-Service solution that simplifies the management of small-holder farmers, increases traceability, and enables access to formal markets. It is used to efficiently manage out-grower schemes and contract farming programs. The company was founded in 2013 and is based in Oslo, Norway.
AgriTask develops an agriculture management service that integrates with existing hardware such as on-the-ground sensors and with other data sources such as satellite imagery. AgriTask’s service combines data from multiple sources to offer farmers and agricultural insurers soil management and agricultural insights.
Discover the right solution for your team
The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.