GreenStitch, a SaaS platform focused on sustainability for the fashion and textile industry, has successfully raised US $ 1.20 million in seed funding.
This funding round was led by Equirus InnovateX Fund, with additional contributions from Ivycap Ventures, Warmup Ventures and Zeca Ventures.
As the fashion industry grapples with increasing regulatory requirements such as CSRD, PEFCR, SBTi, and BRSR, compliance with stringent sustainability standards has become a significant challenge. These mandates necessitate extensive data verification and reporting on Scope 3 carbon emissions and ESG metrics, leaving many companies struggling to adapt.
GreenStitch provides innovative solutions to help the fashion and textile industry achieve its sustainability objectives. The platform integrates with enterprise ERP and PLM systems, consolidating data across multiple supply chain tiers.
Furthermore, the platform identifies gaps in information and utilises AI and machine learning to fill missing details, ensuring reliable Scope 3 GHG calculations even with incomplete datasets, alongside identifying ESG risks within the supply chain.
Beyond emissions tracking, the platform also offers decarbonisation tools and predictive modelling capabilities. These features enable fashion companies to analyse how design and supplier choices impact carbon emissions, empowering them to implement proactive sustainability measures early in the production process.
Commenting on the development, Narendra Makwana, Co-founder and CEO of GreenStitch mentioned that the goal of the company is to decarbonise the fashion industry, which contributes 10% of global greenhouse gas emissions.
“With this funding, we aim to enhance our team, refine our product, and build the largest emissions database for fashion and textiles worldwide. The company plans to enhance its market position in Bangladesh, Vietnam, and EU in the coming year. We are hiring across various roles to expand and strengthen our leadership team,” told Narendra while talking to Apparel Resources.
Arpit Samdani, Co-founder and CTO of the company added, “We are building a centralised climate data platform tailored for the fashion sector. By equipping sustainability managers with actionable insights, our platform helps brands reduce Scope 3 emissions, measure impact, and move closer to Net Zero goals effectively.”
Sunder Nookala, General Partner at Equirus InnovateX Fund, highlighted the market timing, “GreenStitch’s solution arrives at a crucial moment as eco-conscious millennials drive demand for sustainable fashion, and regulatory requirements intensify. Equirus InnovateX Fund is proud to lead this funding round, supporting GreenStitch as it becomes the go-to platform for greenhouse gas reporting, backed by robust academic and policy expertise.”
Vikram Gupta, Founder and Managing Partner at IvyCap Ventures, also shared his perspective, “At IvyCap Ventures, we champion transformative innovations addressing global challenges. GreenStitch’s approach aligns perfectly with our mission to support ventures making meaningful environmental and social impacts. By enabling brands to measure and manage their carbon footprint, GreenStitch is shaping a sustainable future for the fashion industry.”
The funding round also attracted investments from climate and fashion entrepreneurs, including Anshuman Bapna (Terra.do founder), Sumit Jain (CTO, Zalora), Pankaj Vermani (Clovia founder), Amit Kumar (NoBroker founder) and Senthil Sankar (Ecoline founder).
