MUNICH - Tech startup Sewts has raised €7 million ($7.7m) in a series A funding round to scale its ambitions to automate the apparel industry through the use of artificial intelligence (AI) and robotics.
The funding round was led by Emerald Technology Ventures, CNB Capital, EquityPitcher Ventures and Nabtesco Technology Venture as new investors, along with further contributions from existing shareholders Bayern Kapital, APEX Ventures and HTGF.
Sewts says the new investment will enable it to accelerate the roll-out of its 'Sewts.Velum' automated textile folding system for industrial laundries and also enter new markets such as the processing of clothing returns in e-commerce.
