Sourceful raises $12.2m in seed funding led by Index Ventures to advance supply chain sustainability.
The seed round was led by Index Ventures with participation from Eka Ventures, Venrex, and Dylan Field.
Sourceful operates an end-to-end platform that uses data to help businesses source and manage eco-friendly products. The company aims to make global supply-chain sustainability more transparent and achievable.
Sourceful has secured $12.2m in seed funding to expand its sustainable supply chain platform. The investment round was led by Index Ventures, with contributions from Eka Ventures, Venrex, and Figma founder Dylan Field. The capital will be deployed to scale operations, develop the technology platform, and grow headcount across multiple departments.
Launched in June 2020, the Manchester-based company provides tools for brands to measure and reduce environmental impacts within their supply chains. The fresh capital arrives as businesses face mounting regulatory and consumer pressure to reach net zero carbon emissions.
From the founder
"It’s all very well to ask people to ‘shop responsibly’, but the reality is that consumers only have the choices that businesses offer, and it’s not fair to put the burden on individuals to constantly sacrifice cost and convenience."
Wing Chan
CEO and co-founder at Sourceful
Investor perspective
"Today, businesses simply don’t have the tools to act: affordable solutions are scarce, accurate data is thin, and supply chains are complex,"
Danny Rimer
Board Member and Partner, Index Ventures
Use of funds
- 01Grow the team
- 02Continue product development
- 03Scale operations
