Swatchloop, an artificial intelligence-based waste management platform that ensures sustainability in textiles, received an investment from Organic Chemistry.
Swatchloop, an artificial intelligence-based waste management platform that enables more efficient recycling of textile wastes and ensures sustainability in textiles by monitoring recycling processes, received an investment from Organic Chemistry with a valuation of $1.33 million. We have already told you that the startup graduated from the seventh term of the Lonca Entrepreneurship Center.
Aiming to solve the waste problem starting from the textile sector, Swatchloop provides digitalization in recycling in order to reduce the waste problem caused by the sector to the environment, to create an economic impact by performing efficient recycling and to solve the waste problem.
Swatchloop, which carries textile wastes to the digital world in a very short time, optimizes recycling processes thanks to artificial intelligence, and thus aims to save companies time and money, increases waste sales revenue at least 4 times, reduces labor costs in recycling by 60% and increases productivity by 40%.
Since Swatchloop focuses not only on fabric waste, but also on different types of waste from textile production such as cardboard, plastic, accessories and paper, it appears as an initiative that can be used in different sectors.
Swatchloop was accepted and supported by TUBITAK 1512 Green Growth Call, and was awarded the title of “Woman in Innovation” 2022 pre-incubation category, Techxtile Startup Challenge 2022 Level-up runner-up and Promising Entrepreneurs Women Entrepreneur category.
Stating that they aim to become a brand in sustainability with the vision of being the “Zero Waste Platform of Textiles”, the Swatchloop team said that the investment they received from the Organic Chemistry company contributed to the rapid achievement of this goal and that the investment received will help them create a great impact on a global scale by advancing their technologies.
The history of Organic Chemistry dates back to 1924, when Luigi Kaslowski founded Elkasan to trade in fiber, yarn, special textile chemicals and machinery for the textile industry. Today, as a global company serving thousands of customers all over the world in various sectors, giving importance to innovation and sustainability, it has decided to support the technology startup Swatchloop by making its first pre-seed investment. It is foreseen that this cooperation will contribute to creating sustainable value for the textile industry.
Source: Egirisim / Translated by Irem Yildiz