Material Exchange announced a $2 million seed round led by Inventure
Material Exchange, a Stockholm, Sweden-based company operating an online database for the fashion industry, announced securing a $2M capital investment round.
The funding round was provided by a group of investors led by Inventure. The money will be used to open a sales and technical support hub in mainland China.
Material Exchange, founded in 2017 and led by CEO Darren Glenister, developed a SaaS platform enabling footwear and apparel brands to analyse, optimise, provide transparency and digitise their material supply chains. The platform is in use by more than 50 brands, such as Jack Jones, Steve Madden, Uggs, Champion.