Edison Partners, a growth equity investment firm, announced Thursday it will invest $8 million in Suuchi Inc., an apparel manufacturer in North Bergen.
Edison said Suuchi will use the funds to drive go-to-market execution and product innovation as well as continue to expand its platform.
“Time is the biggest risk factor for fashion brands and retailers in today’s supply chain, and legacy systems and processes continue to hinder time to market, not to mention growth, profits and consumer experience,” Kelly Ford, partner, Edison Partners, who led the investment and will join the company’s board of directors, said. “Suuchi is changing the game for apparel brands of all sizes, with a network-driven SaaS platform that makes not only speed, but also profitability, possible with ‘made in the USA.’”
Suuchi’s SaaS-based platform, Suuchi GRID, is powered by a network of more than 200 curated freelancers, materials suppliers and U.S.-based factories with a current available capacity of more than 8 million unit, Edison said.
“We are reducing fashion supply chain complexity and time to market for brands and retailers by creating a more intelligent bridge between supply and demand; and with our shop-floor subject matter expertise, we are dematerializing the supply chain into a digital, made-local model,” Suuchi Ramesh, founder and CEO of Suuchi, said. “With this investment, we are poised to provide a scalable answer to one of the world’s last trillion-dollar problems yet to be solved. In Edison Partners, and Kelly Ford, we have the perfect trifecta of strategic vision alignment, enterprise solutions experience, and a world-class team of operating experts to guide our fast growth.”
