Latest news with #ThomasBørglumJensen
Fibre2Fashion
4 days ago
- Business
- Fibre2Fashion
Denmark's Bestseller leads $20 mn funding for robotics innovator
American company Softwear Automation, specialised in automated garment production, secures USD 20 million in a funding round led by the family-owned fashion company BESTSELLER. While yarn production has long been fully automated, the time may now have come for RMG (ready-made garment) production. Softwear Automation, creator of autonomous 'Sewbots', secured $20 million in Series B1 funding led by Danish fashion group Bestseller via its Invest FWD platform. The investment will accelerate T-shirt sewing tech completion, scale production, and enhance R&D, supporting on-demand, localised garment manufacturing and addressing industry needs for speed, flexibility, and lower environmental impact. A pioneer in this field is Softwear Automation, a technology innovator which has developed a fully autonomous sewing solution: they are making robots that can sew clothes – called 'Sewbots'. Softwear Automation has just announced the successful close of its $20 million Series B1 funding round. The round was led by a strategic investment from BESTSELLER, the Danish fashion company behind brands such as JACK & JONES, VERO MODA, and ONLY. The investment was made through Invest FWD, BESTSELLER's dedicated innovation and investment platform. Current investors also participated in the financing. From BESTSELLER, CFO Thomas Børglum Jensen states: At BESTSELLER, we look for innovations that can support progress and changes in the fashion industry. We believe that Softwear Automation can help address some of the key challenges we face across the industry – from speed and flexibility to reducing the environmental impact of garment production. We are pleased to support their development and look forward to exploring how their advanced technology can help us move forward. Thomas Børglum Jensen CFO, BESTSELLER : As part of the collaboration between Softwear Automation and BESTSELLER, CFO Thomas Børglum Jensen, on behalf of BESTSELLER, joins the board of Softwear Automation. 'This partnership with BESTSELLER and the support from Invest FWD are not just a vote of confidence in our technology — they are a powerful catalyst for the future of on-demand and localised apparel manufacturing,' said Palaniswamy "Raj" Rajan, Chairman and CEO of Softwear Automation . The funding round aims to accelerate the completion of the robotics technology dedicated to t-shirt production, initiate the scaling of production capacity, and strengthen R&D. The investment from BESTSELLER's innovation and investment platform, Invest FWD, follows a series of other investments made by BESTSELLER in recent years. In total, BESTSELLER has invested more than DKK 200 million in innovative companies that aim to create the materials of the future and contribute to breakthroughs that can assist in the transformation of the fashion industry. A significant criterion for the investments is that they not only meet BESTSELLER's needs but also help push the entire fashion industry forward. "When it comes to transforming the fashion industry, it is necessary with a diversified focus. The fashion industry is still linear, so it is crucial for us to also invest in innovative recycling technologies that can transform the clothes we wear today into new garments for the next generation. We have been doing this for several years, and we will intensify these efforts going forward," says Dorte Rye Olsen, Head of Sustainability at BESTSELLER . Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (RM)
Yahoo
5 days ago
- Business
- Yahoo
Softwear Automation secures $20m to advance sewn goods manufacturing
Bestseller, which owns brands such as Jack & Jones, Vero Moda, and Only led the series B1 funding round through its innovation and investment arm, Invest FWD. This financial injection was joined by existing investors including CTW Venture Partners, SRI Capital and MacDonald Ventures. The funds will enable the autonomous sewing technology firm to broaden its product range, extend its reach into new markets, and enhance its research and development efforts. The collaboration is also seen as a strategic move for Bestseller as it aligns with its broader initiative to refine its supply chain and reduce environmental impact while enhancing transparency. Softwear Automation's proprietary Sewbot technology is expected to play a crucial role in this transformation, promoting circularity and demand-driven manufacturing within the apparel industry. Sewbot is an autonomous sewing solution that integrates robotics, machine vision, and AI/machine learning to create a scalable, localised, and sustainable approach to apparel production. Bestseller CFO Thomas Børglum Jensen will join the board of Softwear Automation as part of the partnership. Jensen said: 'At Bestseller, we look for innovations that can support progress and changes in the fashion industry. We believe that Softwear Automation can help address some of the key challenges we face across the industry – from speed and flexibility to reducing the environmental impact of garment production. We are pleased to support its development and look forward to exploring how its advanced technology can help us move forward.' The fresh capital is earmarked for hastening the completion of Sewbot technology tailored for t-shirt production. 'This partnership with Bestseller and the support from Invest FWD are not just a vote of confidence in our technology — they are a powerful catalyst for the future of on-demand and localised apparel manufacturing,' Softwear Automation chairman and CEO Palaniswamy "Raj" Rajan stated. Bestseller's contribution to Softwear Automation's funding is part of its broader strategy to support innovation within the fashion sector through various recent investments. With over Dkr200m ($31m) allocated towards pioneering companies, Bestseller said it is committed to sourcing materials that not only meet its requirements but also propel the entire sector forward. Bestseller sustainability head Dorte Rye Olsen said: "When it comes to transforming the fashion industry, it is necessary with a diversified focus. The fashion industry is still linear, so it is crucial for us to also invest in innovative recycling technologies that can transform the clothes we wear today into new garments for the next generation. We have been doing this for several years, and we will intensify these efforts going forward." In 2017, SoftWear Automation received an additional $4.5m investment from CTW Venture Partners to help accelerate its development of fully automated sewn good worklines for apparel production. "Softwear Automation secures $20m to advance sewn goods manufacturing" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
