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Intellocut Raises $200,000 From Blume Ventures And Other Angel Investors
Intellocut, a material planning and optimization software from Threadsol Softwares has landed seed funding to the tune of $200,000 from Blume Ventures and other angels investors such as Rajan Anandan. Threadsol is a startup which has offices in Delhi and Bangalore and is focusing on improving processes related to sewn products so that manufacturers save money on production and reduce wastage. The software is designed for manufacturers in apparel, footwear, automotive, home furnishings and technical textiles.
The software is web based and once it is setup, it plugs into a producer’s processes and starts intelligently analysing them in addition to suggesting improvements which will save the producer money on the operation. It does this by relying on advanced algorithms and data analysis techniques that have been developed by Threadsol.
The startup is helmed by Manasij Ganguly and Mausmi Ambastha and was demoed at Unpuggd in late 2012. The company claims that its web based software will end up saving 10% in terms of material usage, improves material cutting by 30% and reduces the end bits by 70% in practical scenarios.
Kartik Reddy, Managing Partner at Blume Ventures spoke about the seed funding,
“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.”
While algorithms are rapidly breaking out and impacting the physical world at large, Intellocut is the first Indian startup to use them to make the process of manufacturing sewn products more optimized. Their aim is to help makers incorporate best practices as well as make the industry a lean and environmentally friendly one in addition to helping them generate profits.
Here’s a slideshow which walks you through IntelloCut’s technology.
Website | IntelloCut
Source | Newswire Today
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Source: http://www.watblog.com/2014/02/10/intellocut-raises-200000-from-blume-ventures-and-other-angel-investors/
