San Francisco-based tech company Higg on Wednesday revealed a $50 million Series B funding round to help boost demand for its sustainability-inclined tech solutions.
The funding was jointly led by technology growth investor Silversmith Capital Partners and Tom Steyer and Katie Hall’s Galvanize Climate Solutions. The funding will enable Higg to accelerate its delivery of technology solutions and expansion into new consumer goods categories such as sports, automotive, toys and home goods.
Today, more than 50,000 partners use the Higg platform for supply chain sustainability goals, including measuring areas like carbon footprint, water use, energy use, and more recently, social impact.
Higg’s chief executive officer Jason Kibbey said that along with improving solutions, the tech company (which is a spinoff of the Sustainable Apparel Coalition) will hope to see the fashion industry get more “on track.”
He told WWD, “We definitely will be deploying a lot of investment to supporting [the fashion industry on] that acceleration toward meeting science-based targets. That will absolutely be a priority for us. We’ve also seen a lot more users use the Higg factory social and labor module. We’re seeing a lot more interest in standardized social assessments.”
This will comprise more industry collaborations akin to the developments and integrations seen with the Apparel Impact Institute.
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