Traceability platform Fairly Made has secured US $ 16.1 million funding and aims to accelerate their global expansion and enhance its software-as-a-service (SaaS) platform. Fairly Made currently partners with over 100 brands including Another Tomorrow, A.P.C., Courrèges, Ganni, Patou, Paul Smith, and Versace.
The recent funding round was led by BNP Paribas Asset Management’s Solar Impulse Venture Fund, alongside European impact venture firms GET Fund, ETF Partners, and FrenchFounders. FrenchFounders and ETF Partners were previously involved in a prior US $ 5.4 million fundraising round in 2022. The International Francophone Business Network’s investment division, FrenchFounders, will use its connections to help Fairly Made expand.
Originally a part of LVMH’s Maison des Startups incubator, Fairly Made uses data to evaluate and grade a brand’s whole supply chain with an emphasis on social performance, environmental impact, transparency, and recyclability. In order to analyse effect elements such transit distance and manner, the company performs its own environmental and life cycle analyses and obtains data directly from suppliers, including certifications. Fairly Made’s software allows brands to track products along the value chain and pinpoint areas where sustainability needs to be improved. Customers can obtain this information from the company’s website and through a QR code on hangtags.
The new funds will be used to hire key experts, enhance supply chain traceability, and develop Fairly Made’s SaaS platform. Fairly Made’s Co-Founder, Laure Betsch, said that the development of a robust SaaS platform will enable them to support brands in addressing the environmental and social challenges of tomorrow.
To support its US expansion, Fairly Made will add a US-based salesperson to its team, which currently consists of 80 employees worldwide.
The company’s growth aligns with the EU’s digital product passport regulations, which will mandate that companies reveal supply chain and recyclability details by 2026 and be fully implemented by 2030. Demand for Fairly Made’s technology, which gives customers comprehensive information about the origins of raw materials, manufacturing procedures, and environmental impact, is anticipated to increase as a result of these regulations.
