One million euros for Retraced

Tracking supply chains is becoming increasingly important. The Düsseldorf-based start-up Retraced has developed a blockchain platform for this purpose and has now received one million euros in its seed financing round.

Ethical and sustainable principles at companies are becoming increasingly important to consumers, and the Supply Chain Act has been the subject of fierce debate within the coalition for months. The start-up Retraced wants to remedy this by tracking supply chains for customers and companies via a blockchain platform. The start-up has now received one million euros in seed funding from Spanish venture capitalist Samaipata.

"We are delighted with the timing of the funding round and the opportunity to work with Samaipata on our journey. Their expertise in developing digital platforms will help us get closer to our vision," says CEO Lukas Pünder. The start-up wants to use the money to attract more fashion companies to its offering and drive forward its technical development.

Retraced was founded in 2019 and is headquartered in Düsseldorf, but also has offices in Mexico and Cyprus. A pre-seed round took place at the beginning of 2020 with the involvement of business angels and NRW Bank. Samaipata focuses primarily on supporting the early stages of start-ups and is convinced by Retraced: "90% of Generation Z see companies as having a duty to take social and environmental responsibility, and we believe there is a great opportunity for a platform in this area," says José del Barrio, founding partner at Samaipata.