INDIA: IntelloCut secures Blume funding for expansion
Material planning and optimisation software supplier IntelloCut, owned by Threadsol Software, has secured US$200,000 in funding from Blume Ventures and a group of angel investors for global expansion and marketing.
IntelloCut helps save fabric and reduce the time and labour required for order planning and fabric consumption. It automatically creates a cut order from input data, suggests grouping, allocates rolls and plans remnants, by reducing number of plies, markers, bodies-cut and end-bit wastage.
"This investment will help us achieve scale through strengthening our marketing and sales networks, and developing new products from our world class R&D facility in Delhi," said Manasij Ganguli and Mausmi Ambastha, founding members of IntelloCut.
IntelloCut raises seed investment of $200,000 from Blume Ventures and Angel Investors
IntelloCut raises seed investment of $200,000 from Blume Ventures and Angel Investors Bangalore: 7th February, 2014: intelloCut, a material planning and optimization software for sewn products (apparel/ leather/ inflatable/ upholstery footwear/ home furnishing/ technical textile) hasraised $200,000 in seed investment from Blume Ventures and angel investors including Rajan Anandan amongst others. The funds raised will be used for global expansion and marketing. Mumbai-based Blume Ventures is an early-stage seed and pre-series A venture fund. It co-invests with other funds and provides seed funding in the range of $50,000 to $300,000 to early-stage tech-focused and tech-enabled ventures. It also provides follow-on investments to its stellar portfolio companies, ranging from $500,000 to $1.5 million.
Mr. Kartik Reddy, Managing Partner at Blume Ventures said, "We love founders and teams that want to disrupt. We look forward to our partnership with Mausmi Ambastha, Manasij Ganguli and their team in their journey of building intelloCut into the de-facto planning software for the manufacturing industry. In an industry that is as competitive as garment manufacturing, they've developed software and algorithms that are saving 3-7% across pilots and their initial customers. This can be a huge boost for efficiency in this sector and we have some great co-investors who can guide this team to the next level." Commenting on the investments made by Blume Ventures in intelloCut, Academician and Industry Expert, Prof. (Dr.) PrabirJana, Head (Information Technology) NIFT asserts, "The permutation and combination in cut planning is so many, it is impossible for a human being to choose mathematically best option manually. Cut planning software is probably the only true application where mathematical algorithms are used in garment manufacturing. IntelloCut is the most realistic cut planning software I have ever reviewed which takes care of real life constraints and common human habit of non-conformance in dynamic scenario to offer practical solution."
"Acceptance from the fraternity and encouragement from our marquee investors motivate us to fulfill intelloCut's mission. This investment will help us achieve scale through strengthening our marketing and sales networks, and developing new products from our world class R&D facility in Delhi" said Manasij Ganguli and Mausmi Ambastha, Founding members of IntelloCut.
IntelloCut not only saves fabric, but drastically reduces the time and labor required for order planning and fabric consumption. It automatically creates a cut order from input data, suggests grouping, allocates rolls and plans remnants, by reducing number of plies, markers, bodies-cut and end-bit wastage.
About Threadsol Softwares: Established in 2012, Threadsol Softwares was started by a team of smart thinkers with deep understanding of apparel production and software engineering, with a view to turning apparel and garment enterprises into smarter ones. With offices in Bangalore and Delhi, intelloCut claims to save upto 10% material, improves cutting productivity by 30% and reduces end bits by 80% in the practical scenarios. For more information, visit www.intellocut.com.
Original source: IntelloCut
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