Twine Solutions Raises $28 Million In Investment Round To Accelerate Its Digital Thread Dyeing Business
Twine Solutions Is Revolutionizing The Textile Industry And Expanding Internationally
Petach Tikva, Israel/May 18, 2021: Twine Solutions announced that it has raised $28 million in an investment round, led by Menora, Meitav Dash, and Analyst.
Existing shareholders New Era Capital, Landa Ventures, Gefen Capital, and others also participated in this investment round which will support the company's acceleration of global installations of its newly released TS-1800 Gen2.
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 non-marketable 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:"
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".
Noam Rokach, VP of Investments at Analyst, stated, “Twine, a company that relies on a team of knowledgeable and experienced people, offers an exceptional solution that strives to change the way the textile industry operates in the future."
About Twine Solutions
Twine Solutions is an Israel-based startup that makes proprietary systems to digitally dye colors onto threads. The process is on-demand and leaves no waste.
Conventional dyeing processes uses toxic chemicals like Volatile Organic Compounds and high amounts of water. The process leaves out toxic effluents. Moreover, dyeing can only be done in bulk in specialized facilities and transported to textile and garment factories.
Twine’s patented dyeing system branded TS-1800 colors threads continuously with a patented ink technology, TDI Ink.
Twine Solutions has created the first technology of its kind for digitally dyeing thread on-demand.
Launched in 2015 by twin brothers, Alon and Erez Moshe, Twine digitally dyes raw or off-the-shelf, white polyester thread in any color and length for immediate use in sewing, knitting, and embroidery.
Twine’s process is sustainable, uses no water, and reduces significant amounts of thread waste. Twine helps companies meet their sustainability goals, reduce thread waste, and cut cost.
