sewts, a Munich, Germany-based robotics startup, completed a seven-figure financing round.
APEX Ventures, Bayern Kapital and High-Tech Gründerfonds (HTGF) participated in the financing round, while the existing investor Initiative for Industrial Innovators along with a consortium of experienced business angels will also reinvest.
The company intends to use the funds for the further development of their software into a series product, the expansion of the development team as well as the acquisition of medium- and long-term integration and distribution partners.
Founded in 2019 by Alexander Bley, Tim Doerks and Till Rickert, sewts develops a software-as-a-service (SaaS) solution, which enables industrial businesses to automate processes, during which easily deformable materials are processed, for example textiles or foils. Initially, the technology is to be used in industrial laundry lines, but in the long term, cross-sector applications for the textile industry and the high-tech sector are planned as well.
Potential areas of application for the innovative technology are being expanded constantly as well, opening up new production possibilities in the textile industry, for example in clothing production. In the long term, sewts also aims to include other production sectors, for example, foil and foam processing.
The company currently has a staff of 20.
FinSMEs
04/05/2021