SupplyCompass navigates £1.5m seed round to transform global supply chains
by Startacus Admin
SupplyCompass, a design-to-delivery sourcing platform that provides an efficient and sustainable solution for global supply chains, agrees a £1.5m seed fund deal.
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 – a huge leap forward in 
supply chain innovation and sustainably-manufactured goods for consumers across the globe.
Based in London and Mumbai, SupplyCompass uniquely combines its strong supply chain partnerships with its cloud-based platform technology and team of production experts, to make sustainable sourcing and ongoing manufacturing management easy, fast and efficient.
SupplyCompass is part vetted manufacturer network and part production management tool for fashion and interiors brands. Unlike competitors that have focused their efforts on solving pain points purely for brands, SupplyCompass is equally weighted in providing a solution that works for international manufacturers and suppliers as well as brands, by streamlining the whole design development and production process from start to finish.
The UK-based sourcing company is on a mission to transform global supply chains into faster, more efficient and more sustainable outfits.
Co-founders Gus Bartholomew and Flora Davidson met at university and spent two years living and working in India to build the foundations of SupplyCompass. Following its launch in early 2018, SupplyCompass now has 50 well-established, progressive factory partners in India (plus Sri Lanka and Nepal) and mainland Europe (including Portugal, Spain, Italy).
The investment from Episode 1 – alongside Mumbai and London-based Unicorn Ascension, Ascension Ventures and Andy Chung and Philipp Moehring from AngelList – will enable SupplyCompass to develop its technology and expand its curated marketplace of best-in-class international manufacturers.
Particular emphasis will be placed on the earlier stages of the sourcing process where greater opportunities lie for establishing sustainable practices, including manufacturer matching, design development and sampling.
Gus Bartholomew, SupplyCompass CEO & Co-Founder, said: “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."
Adrian Lloyd, Episode 1 Partner, continues: “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.”
If you are interested in supply chain / logistics innovation, you might also want to read up on:
Veratrak aims to digitise the pharmaceutical supply chain.
Importwise - importation made easy.
Weengs e-commerce fulfilment solution has big ambitions.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
A study recently carried out by Volteface, has been revealed that social media platforms are frequently being used in order to advertise illicit drugs.
When it comes to setting up a startup there are certain things to consider before you set up your business in the city.
The edtech startup that's helping students learn by putting the core syllabus to music
The startup that's creating a learning experience to inspire the next generation of STEM learners, starting with Maths.
Not having the right team is a common reason why startups fail. Here are some of the key personalities and soft skills you'll need in your team.
Mattr Media share their 6 key steps they recommend to every brand who wants to create a killer crowdfunding video and a successful raise.
A look at some of the reasons why employee training is so essential for SMBs...
.jpeg)
With the impact of BREXIT still very much an uncertainty, our evening event at Startup Week Dublin will explore startup collaboration and opportunities between NI and Ireland.
There are some ways that you can make your start-up stand out, including...
Tech startups focused on smart buildings and cities, smart grid, construction tech, predictive maintenance, and other tech solutions - take note!
Published on: 15th July 2019
.png)
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Event at Startup Week Dublin to explore startup collaboration between NI and Ireland 11th Oct 2019 With the impact of BREXIT still very much an uncertainty, our evening event at Startup Week Dublin will explore startup collaboration and opportunities between NI and Ireland.
- Startups shaping future of the smart built environment wanted for RElab programme 8th Oct 2019 Tech startups focused on smart buildings and cities, smart grid, construction tech, predictive maintenance, and other tech solutions - take note!
- Tech startups in telecom infrastructure sought for BT run competition 3rd Oct 2019 BT and the Telecom Infra Project (TIP) have launched the third annual competition for startups in telecom infrastructure
- Innovative Tech Startups sought for the ATI Boeing Accelerator 3rd Oct 2019 Tech startups building solutions relevant to the UK aerospace industry - take note! Innovative Tech Startups are sought for the ATI Boeing Accelerator.
