The textile sector is the second-most polluting in the world, accounting for 10% of the emissions that are causing the climate problem. A number of entrepreneurs are racing to transform the fashion industry into a circular company. Tex.tracer, an Amsterdam-based business, has secured €1.5 million in expansion finance from ROM InWest, HearstLab Europe, Joanna Invests, and other angel investors. The firm has created a SaaS transparency platform to help retailers, fashion, and textile brands take action based on actual facts in order to reach the EU Net Zero targets by 2050. The platform provides true supply chain transparency and assists businesses in becoming compliant with new laws and legislation such as the EPR, CSRD, and Digital Product Passport. Jolanda Kooi, CEO of Tex Tracer, created the company alongside Bart Westerman as an impact business to be a change maker in the fashion sector. Tex.tracer verifies data at several levels by using time and geolocation stamps, peer-to-peer evaluations, and blockchain technology, making it simpler for brands and merchants to act on facts in order to fulfil net zero targets.
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