Swatchloop, a local startup that aims to provide a solution to the waste problem by creating recycling rings in the supply chain with the technology it has developed and ensuring the traceability of textile waste and management of recycling processes, received investment from Founder One, Turkiye’s impact investment fund.
Swatchloop embraces the principle of sustainability at every stage of the textile production process by covering various types of waste such as cardboard, plastic, accessories and paper, as well as fabric waste.
Waste management platform Swatchloop digitalises the management process of all textile waste, from fiber to fabric, from fabric to accessories, from technical textiles to composite materials, and offers manufacturers and brands in the sector the opportunity to establish and manage a sustainable waste management chain.
In this context, it brings together sector stakeholders and directs all stakeholders who create textile waste to sort, combine, donate or sell their waste in a way that contributes to the circular economy. The innovative solutions it offers include features such as digital waste twin, tracking and monitoring, data-based dashboard, digital classification and digital product passport (DPP). These solutions optimize waste management processes, increasing sustainability and efficiency in the textile industry.
Founder One investment committee member and general manager Ali Sahin said about the investment;
“As Founder One, we are excited to invest in Swatchloop, which supports the textile industry’s efforts to reduce its environmental impact and is an important part of the circular economy. We believe that Swatchloop will add value to the sector with its innovative approaches in waste management and recycling processes and take important steps for a sustainable future. This investment reflects our commitment to environmental sustainability and our goal of creating social benefit.”
Source: Egirisim / Prepared by Irem Yildiz