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Material Exchange Ventures AB runs a digital sourcing platform for the fashion industry, connecting brands, designers, and suppliers.
Founded in 2017 in Stockholm, Sweden, Material Exchange Ventures AB runs a digital sourcing platform for fashion. Its AI sourcing assistant, Frank, helps users find materials and connect with suppliers. Revenue comes mainly from subscriptions. As of April 12, 2022, the company raised EUR 25 million in a Series A round led by Molten Ventures. In 2022 it reported revenue of EUR 185,345.30 and EBITDA of EUR -6,248,393.60.
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