Israel technology firm Twine Solutions, which claims to have created the first technology of its kind for digitally dyeing thread on-demand, has raised US$28m to scale global installations of its newly released TS-1800 Gen2.
The investment round was led by Menora, Meitav Dash, and Analysts. Existing shareholders New Era Capital, Landa Ventures, and Gefen Capital also participated.
Launched in 2015 by twin brothers Alon and Erez Moshe, Twine digitally dyes raw, or off-the-shelf, white polyester thread in any colour and length for immediate use in sewing, knitting, and embroidery.
Twine says its process is sustainable, uses no water, and reduces significant amounts of thread waste, helping companies meet their sustainability goals, reduce thread waste, and cut costs.
“The textile industry is in dire need of change that Twine profoundly addresses. We have recently expanded in two key regions, Europe and Asia, and are currently working on expanding to North America. We appreciate the trust of our shareholders and continue to work to disrupt the textile industry with a breakthrough technology that will enable brands to meet their sustainability goals given the negative impact of the current way of dyeing threads,” says Alon Moshe, Twine’s CEO.