Sustainable fashion scale-up Fairly Made has raised €15 million ($16.2 million) from a group of impact-focused venture funds to accelerate its ambitions to expand globally, the company said Thursday.
The Paris-based tech-based tech platform works with companies including LVMH, Balmain and SMCP to help them trace supply chains, measure their environmental impact and develop digital passports to store the information.
More big fashion brands are seeking out such services as European regulators toughen up disclosure requirements for supply chain and environmental data.
Learn more:
The Tech Race to Back Up Fashion’s Green Claims
Brands are turning to AI-powered analytics tools to improve their ability to measure environmental impact in the face of new government regulation. But getting hold of accurate data to support these assessments remains a difficult and largely manual challenge.
