TrusTrace

About TrusTrace

TrusTrace operates a software-as-a-service (SaaS) platform focused on supply chain traceability and compliance, primarily for the fashion, footwear, and textile industries. The company was established in 2016 by co-founders Shameek Ghosh, Saravanan Parisutham, Hrishikesh Rajan, and Madhava Venkatesh. The founders, all IT professionals, were personally motivated to address the environmental degradation and social inequality they witnessed in South India, particularly the water pollution in Coimbatore caused by the textile industry. This firsthand experience prompted them to create a technology-based solution for a problem they initially approached as industry outsiders.

The company's business model is centered on a subscription-based platform that enables brands and suppliers to manage and share supply chain data. This service helps clients mitigate risk, ensure compliance with evolving regulations, and substantiate sustainability claims. TrusTrace serves a range of businesses from mid-size brands to large global corporations, including notable clients like Adidas, Asics, Decathlon, and Tapestry. Revenue is generated through these subscriptions, and the company has demonstrated significant growth, reporting a five-fold increase in subscription revenue in the 27 months leading up to its latest funding round. The company has secured a total of $30 million in funding over several rounds, including a $24 million Series B round in early 2024 to fuel global expansion.

The TrusTrace platform provides a digital backbone for standardizing the capture and validation of granular, real-time data directly from a client's supplier network. Key features include supplier and material traceability, which automate the creation of a digital chain of custody, and compliance management to meet regulatory requirements like the EU's Digital Product Passport. It utilizes AI to link supplier declarations to shipments to detect risks such as forced labor. The platform is designed with an open API to integrate with clients' existing ERP and PLM systems, as well as third-party certification bodies, creating a centralized hub for all traceability data. This allows for multi-tier visibility, from raw material sourcing to the final product, replacing manual, spreadsheet-based data collection and improving operational efficiency.