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STOCKHOLM – Digital apparel sourcing specialist, Material Exchange, has announced has raised €25m in Series A funding. Material Exchange is a virtual marketplace which aims to simplify the relationship between footwear and apparel brands and material suppliers.

Since 2017, the company has raised around US$35.4m. The new investment will be used to improve the company’s product suite, which includes a marketplace for connecting brands with suppliers, a brand material management system for organising materials, and 3D scanning for creating more accurate visuals.

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