The Danish fashion group Bestseller has led a financing round of the B1 series of $ 20 million (18.5 million euros) for softwear automation. The company develops autonomous sewing technology and is currently working on the commercialization of its offer.
In addition to the strategic investment made by the Bestseller Invest FWD program, Thomas Børglum Jensen, the CFO of the Group, has joined the board of Softwear Automation. Bestseller, which brands like Jack & Jones and Vero Moda belong, participated in the financing together with existing investors such as CTW Venture Partners and Sri Capital.
For Softwear Automation, the investment comes at an important time. The company continues to progress in the commercialization of its fully automatic Sewbot work lines. The patented technology enables the production of sewn products closer to the consumer. According to a press release, the cycle times are shortened and cost efficiency ensures.
The company stated that the financing for the development of new product categories and regions, the expansion of its research and development capacities as well as scaling to cover the growing global demand.
For bestsellers, the partnership reflects the efforts to improve its supply chain model in terms of transparency and environmental pollution. The group plans to use Sewbot technology in order to make production more demand-oriented.
“Softwear Automation helps to cope with some of the most important challenges with which we are faced with the entire industry – from speed and flexibility to reducing environmental pollution,” said Jensen. “We look forward to supporting and examining your development how this technology can help us come forward.”
This article was used with digital tools translated.
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