Material Exchange Raises Funds to Lead Sustainable Material Sourcing
Stockholm-based Material Exchange, a B2B digital material sourcing marketplace for the apparel and footwear industry, has achieved its next round of Series A investment, closing in on €25 million (approximately $27M U.S). Launched last year, the platform features streamlined data for transparency, increased efficiency for reduced cost, and less waste for sustainability.
In October 2021, Material Exchange reached an agreement to acquire the agency division of Olah Inc., a multi-faceted New York-based firm focusing on the denim and sportswear industries, to support digital transformation in the material sourcing process. This decision expands Material Exchange's digital platform beyond global digital sourcing into expert services.