Material Exchange, a Stockholm, Sweden-based provider of a B2B SaaS-enabled marketplace, raised €25M in Series A funding.
Molten Ventures led the round, which also included participation from Day One Capital, Lyra and Inventure, Norrsken.
The company will use the funds to grow its product portfolio and increase recruitment, as it recruits top-quality talent across a range specialties.
Material Exchange, founded by Darren Glenister as CEO and Founder, is an international virtual marketplace that transforms the material sourcing process and simplifies complex relationships between shoe and apparel brands. The company’s platform consists of a marketplace for connecting brands with a curated network of suppliers; a Brand Material Management System for organizing materials and collaborating with stakeholders, and 3D scanning for creating accurate visuals.
The company recently announced Lucienne™ – an AI tool that automatically creates an infinite number of unique prints and patterns.