Miguel Cordon · · 1 min readHong Kong’s supply chain compliance platform bags $2.5m from MindWorks
Supply chain compliance and quality assurance platform International Compliance Workshop (ICW) today announced it raised US$2.5 million in a series A funding round.
MindWorks Ventures led the round together with Innovation and Technology Venture Fund Corporation (ITVFC), a company formed by the Hong Kong Special Administrative Region (HKSAR) Government to invest in local innovation and tech startups.
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ICW will use the investment to further develop its compliance management system and extend its reach toward the US and the Middle East.
The platform connects retailers, manufacturers, suppliers, trading companies, as well as certified testing and certification institutions. It also operates as a marketplace for clients to find accredited product testing, inspection, and auditing services.
ICW claims to serve clients from more than 50 countries, with total enterprise subscribers and transaction sales growing by 4,000% and 240%, respectively.
The company is the first to secure funding from ITVFC since the HKSAR Government established the HK$2 billion fund, it said in a statement.
Editing by Charmaine de Lazo
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