Israeli startup Twine Solutions develops digital thread dyeing systems. The company just raised $28 million in an investment round, led by Menora, Meitav Dash, and Analyst.
Founded in 2015, Twine Solution LTD. is a technology startup developing a proprietary, digital thread dyeing system and digital dye to match algorithm based application. The technology takes in a continues single white color thread and dyes the thread to any requested length and color with millions of available colors and shades as well as color gradients. Twine’s DST (Digital Selective Treatment) technology, enable thread dyeing on- demand and ready to use within seconds with high GRADE in a unique, waterless, eco- friendly process.
Twine’s boasts that its disruptive technology revolutionize threads, fabrics and garment industries by eliminating the long, messy, cumbersome conventional bulk dyeing. Twine eliminates the need for colored thread stock, dramatically reduce logistic, dead stock and other waste costs. The single thread single needle multi-color method will free your design and creativity limitations while improving production efficiencies, margins, overall profitability and resulting in a less than a year ROI and low TOC’s.
Alon Moshe, Twine’s CEO and co-founder, commented, “It is with great pleasure that we announce and welcome our new investors to Twine as we continue our epic journey. 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.
Nir Moroz, Deputy CEO and Managing Director of Menora Mivtachim Insurance Division, commented, “Menora Mivtachim is proud to lead the investment in Twine, with an emphasis on companies that create real disruption. We are pleased to join the great management team led by Alon Moshe, as well as the company’s respected list of investors. This investment joins many other nonmarketable investments of our private investment department under the professional management of Omer Schiffer. The purpose is to diversify the investment portfolios of our insured and members to achieve a high return at low risk. ”
Guy Mani, CIO Meitav Dash Provident & Pension Funds said, “Meitav Dash chose to invest in Twine, which is in line with its investment strategy in ESG companies and the expansion of its technology portfolio. Beyond the attractive value proposition that the company brings with it, its revolutionary solution will help make one of the most polluting industries in the world cleaner. We believe in the management of the company and in its ability to carry out its business vision”.