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Tilkal raises new funding from Innovacom and EIC Fund

Tilkal raises new funding from Innovacom and EIC Fund to strengthen the technological development of its platform and accelerate its global deployment.

Paris, May 20, 2024 - Tilkal, an innovative company providing a SaaS platform for supply chain traceability and transparency, announces a new funding round from Innovacom and EIC Fund. This investment follows Tilkal's selection by the European Innovation Council (EIC) Accelerator in October 2022. Previously, a seed round was conducted in June 2019, led by Breega and Ventech.

Founded in 2017, Tilkal provides companies with the capabilities for traceability, transparency, and data auditability needed to make their supply chains more resilient, sustainable, and ethical.

With this new funding round, Tilkal aims to accelerate its international development and solidify its position as a key traceability operator in Europe. To support this growth, the company intends to enhance the technical attributes of its SaaS platform, designed to serve as the data backbone for businesses. The platform enables data sharing among value chain participants with a balanced approach to confidentiality and transparency. Additionally, it offers the potential to improve compliance and operational excellence, from product origins to ESG declarations, through unprecedented levels of data intelligence and traceability analysis.

Tilkal raises new funding with Innovacom and EIC Fund

"We are witnessing a real paradigm shift with the emergence of regulations defining a future where reliable end-to-end traceability will be a condition for accessing most markets" says Matthieu Hug, President and co-founder of Tilkal. "The completion of this new growth investment is proof that traceability is at the heart of sustainable transformation. With this funding, we will enhance our ability to meet regulatory goals by enabling companies to practice increasingly efficient traceability, better control their supply chains end-to-end, and manage the impacts and risks on their own operations," adds Matthieu.

Since its initial funding round in 2019, Tilkal has demonstrated its ability to rethink current supply chain transparency approaches and create superior technology in the form of a traceability platform that holistically covers supply chain operations. The platform also integrates due diligence, impact assessment, and advisory algorithms for ongoing regulatory changes and supplier evaluations.

Used in sectors such as food, textiles, cosmetics, minerals, and aerospace by notable industries and brands like Danone, Valrhona, Cœur de Lion, Longchamp, Petit Bateau, The Responsible Mica Initiative, Daher, Eramet, and many others, the platform has demonstrated its ability to support large-scale deployments. It stands out with unparalleled performance levels and data volumes, processing over 1.4 million events and 1.3 million notarized transactions annually, and declaring 60,000 sites/suppliers.

"Originally, Tilkal was born from the commitment of Joseph [Azar], Sébastien [Gaïde], and myself to contribute to a more ethical and responsible economy. This commitment resonates with our clients, who rightfully wish to differentiate themselves by demonstrating their end-to-end industrial mastery. As we embark on this new phase of growth, we are delighted to collaborate with such ambitious and dedicated financial partners as Innovacom and EIC to continue innovating and expanding," says Matthieu Hug.

"Technological progress is crucial to supporting the renewal of industry and contributing to its digital and environmental transformation. This is why we are proud to support the Tilkal team and work with them to ensure transparency and traceability in value chains," comments Alex Gerbaud, Investment Director at Innovacom.

"Tilkal has rethought current supply chain transparency approaches and created superior technology in the form of a traceability platform that holistically covers supply chain operations. It also integrates due diligence, impact assessment, advisory algorithms for upcoming regulatory changes, and supplier evaluation. We are delighted to participate in this funding round," emphasizes Svetoslava Georgieva, Chair of the EIC Fund Board of Directors.


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