#United States #Atlanta #Softwear Automation #BESTSELLER #SEWBOT

Softwear Automation Lands $20 Million Series B1 Funding

Softwear Automation, a trailblazer in autonomous sewing technology, has recently announced the successful closure of its $20 million Series B1 funding round. This initiative marks a significant stride towards transforming the sewn goods manufacturing sector. The funding round was spearheaded by a strategic partnership with BESTSELLER, the well-known Danish fashion company behind brands such as JACK & JONES, VERO MODA, and ONLY.

This financial influx was channeled through Invest FWD, BESTSELLER's innovation platform which focuses on promoting sustainability within the fashion industry. Existing investors, including CTW Venture Partners, SRI Capital, and MacDonald Ventures, also joined in on the funding effort. This collaboration not only promises to enhance Softwear Automation's capabilities but also signifies a broader commitment to advancing sustainable practices in apparel production.

As part of this strategic collaboration, CFO Thomas Børglum Jensen from BESTSELLER will join the board of Softwear Automation, emphasizing the integration of innovative and sustainable practices into garment manufacturing. "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, localized, and more sustainable apparel manufacturing," stated Palaniswamy "Raj" Rajan, Chairman and CEO of Softwear Automation.

The innovation represented by Softwear Automation's patented SEWBOT® technology enables a fully autonomous sewing solution, which allows for the production of sewn products closer to consumers. This approach significantly reduces waste, speeds up manufacturing cycles, and improves cost efficiency. With this new funding, the company plans to expand into additional product categories and geographic markets, enhance its research and development capabilities, and scale its production to meet the rising global demand.

In comments regarding the partnership, CFO Thomas Børglum Jensen of BESTSELLER noted, "At BESTSELLER, we pursue innovations that can drive progress across the fashion industry, where transformation is essential. Softwear Automation is addressing critical challenges we face, such as speed, adaptability, and minimizing environmental impact. We are excited to support their progress and explore how this technology can facilitate our advancement."

The collaboration aligns with BESTSELLER's overarching goal of refining its supply chain model, which includes ambitions to decrease environmental impact and improve transparency throughout the supply chain. This partnership endeavors to leverage SEWBOT® technology to foster a more circular and demand-driven approach to production in the fashion industry.

With the advent of this strategic alliance and fresh funding, Softwear Automation is on the cusp of leading the next chapter in apparel manufacturing. This chapter promises to prioritize sustainability, speed, and localized production, ensuring that the future of fashion aligns with modern-day ecological responsibilities.

About Softwear Automation:
Based in Atlanta, Softwear Automation is committed to revolutionizing the $1.1 trillion sewn products industry through its fully automated worklines. The SEWBOT® platform amalgamates advanced robotics, machine vision, and AI/ML technologies to create a scalable, local, and sustainable manufacturing solution for apparel.

About BESTSELLER and Invest FWD:
BESTSELLER is a family-owned global fashion business with brands distributed in over 70 markets worldwide. Invest FWD represents BESTSELLER’s innovation and investment initiatives aimed at accelerating sustainable transformations throughout the fashion value chain. More information about their ventures can be found on their website.