Threadsol Softwares, the owner and operator of optimization software IntelloCut, has closed $200,000 (INR1.3 crore) in a recent financing. The new capital came from a group of early-stage and angel investors led by Google India chief Rajan Anandan and Blume Ventures, according to The Economic Times.
This marks the first funding round of Threadsol. The startup will use the new capital for its expansion, marketing efforts, and product development. The exact terms of the investment deal were not disclosed. The stake acquired by the new investors was also not revealed, the report explained.
Launched in 2012, IntelloCut mainly caters to the textile and garments sector. The software predicts and optimizes material utilization and productivity. It scope covers apparel, footwear, automotive, technical textiles, and home furnishings, the report detailed.
IntelloCut helps a company save up to 10% of its material by enhancing cutting productivity. The software also decreases end bits by 70%, The Economic Times reported.
Join the Conversation