sewts, a Munich, Germany-based industrial automation and deep tech startup, closed a €7 million series A financing round.
The round was led by Emerald Technology Ventures, CNB Capital, EquityPitcher Ventures, and Nabtesco Technology Venture as new investors. Existing shareholders Bayern Kapital, APEX Ventures, and HTGF, also contributed in the round.
The funding will be utilized to accelerate the expansion of sewts' sewts.VELUM systems into international laundries and explore new markets such as processing clothing returns in e-commerce.
sewts focuses on a unique area in robotics by automating the handling of deformable and soft materials like textiles, which has been a challenging task compared to the easier handling of rigid materials. They achieve this by combining AI, robotics, and material simulation, giving robots the capability to perceive and grasp textiles as humans do.
sewts is planning to automate the handling of returned clothes in e-commerce. In 2022, sewts launched its first series-ready product, sewts.VELUM. This robotic cell is designed to aid industrial laundries in dealing with labor shortages and enhancing operational efficiency by automating the picking and folding of laundered towels.
Alexander Bley, Co-Founder and CEO at sewts, said, “Our long-term vision is a “moonshot” idea—to revolutionize the production of textiles. To get there, we first dedicate ourselves to the most promising niche markets and then approach the big vision step by step.”
Company: sewts GmbH
Raised: €7.0M
Round: Series A
Funding Month: August 2023
Lead Investors: Emerald Technology Ventures, CNB Capital, EquityPitcher Ventures, and Nabtesco Technology Venture
Additional Investors: Bayern Kapital, APEX Ventures, and HTGF
Company Website: https://www.sewts.com/
Software Category: Controlling and Image Processing Software Solutions
About the Company: Founded in 2019 by Alexander Bley, Tim Doerks, and Till Rickert, sewts is a robotic company that provides a SaaS solution to be used in industrial laundry lines. The company develops controlling and image-processing software solutions to automate processes, and easily deformable materials are processed for textiles or foils. sewts uses cutting-edge machine learning and computer vision technology to develop highly intelligent robotics. sewts’ mission is to simplify complex manual labor into streamlined automation.
Source: https://www.sewts.com/2023/08/08/sewts-raises-series-a/