SupplyCompass, a design-to-delivery sourcing platform that provides an efficient and sustainable solution for global supply chains, has agreed a £1.5m seed fund deal led by early-stage venture capital investor, Episode 1.
The deal makes SupplyCompass the first UK-based sourcing company to receive funding of this level.
Based in London and Mumbai, SupplyCompass combines its supply chain partnerships with its cloud-based platform technology and team of production experts, to make sustainable sourcing and ongoing manufacturing management easier.
Gus Bartholomew, SupplyCompass CEO & Co-Founder, commented: “Current sourcing methods aren’t fit for brands of the future; they’re offline, inefficient and fragmented. Technology is needed for global supply chains to progress and become faster, more efficient and more sustainable. At SupplyCompass we see the key to success lying in rethinking existing sourcing methods, with better collaboration, innovation and technology at the core. Our vision is to become the leading sourcing software for the pioneering fashion and interiors businesses of the future, and this funding from investors Episode 1 will help us to do just that.”
Adrian Lloyd, Episode 1 Partner, continued: “The SupplyCompass team is exceptionally knowledgeable about the fashion supply chain and all evidence suggests they are execution machines. We are extremely excited to fund their growth and technology development which we believe will help them develop into a very large and famous company whilst increasing the sustainability of a currently unsustainable industry.”