SupplyCompass raises £1.5m as it rethinks sourcing methods

Sustainable sourcing platform SupplyCompass has raised £1.5 million in seed funding, led by early-stage venture capital investor Episode 1 and also involving Unicorn Ascension, Ascension Ventures and Andy Chung and Philipp Moehring from AngelList.

The company intends to use the cash to develop its technology and expand its database of sustainable manufacturers. Gus Bartholomew, SupplyCompass CEO and Co-founder, says: “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.”

“We see the key to success lying in rethinking existing sourcing methods, with better collaboration, innovation and technology at the core. Our vision is to help fashion and interior brands make products that don’t have to cost the earth, and this funding will help us to do just that.”

Adrian Lloyd, Episode 1 Partner, adds: “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.”