Material planning software startup intelloCut gets $200K funding from Blume Ventures, others
Bangalore-based Threadsol Software Pvt Ltd, which owns and operates intelloCut, a cloud-based material planning and optimisation solution for sewn products, has raised $200,000 in seed funding from Blume Ventures and a group of angel investors, including Google India chief Rajan Anandan. The capital will be used for global expansion and marketing.
"This investment will help us achieve scale through strengthening our marketing and sales networks, and developing new products from our world class R&D facility in Delhi," said founders Manasij Ganguli and Mausmi Ambastha.
The duo set up intelloCut in 2012. A BE in Electrical and Electronics Engineering from Birla Institute of Technology, Ganguli (CEO) had earlier worked at Terracotta, RS Software, Impetus Technologies, CSC and TCS.
Ambastha (COO) holds a master's degree in Garment Manufacturing Technology, and had previously worked at Methods Apparel Consultancy and Triburg.
intelloCut measures, predicts and optimises material utilisation and productivity for sewn products industry (apparel, footwear, automotive, home furnishing, technical textiles, etc). It snaps into the processes of buying, cutting and using of material and improves utilisation, reduces wastage, increases productivity and improves estimation accuracy. intelloCut claims it saves up to 10 per cent material, improves cutting productivity by 30 per cent and reduces end bits by 70 per cent in the practical scenarios and makes the sewn products industry lean, green and highly profitable.
intelloCut automatically creates a cut order from input data, suggests grouping, allocates rolls and plans remnants, by reducing number of plies, markers, bodies-cut and end-bit wastage. The firm has offices in Bangalore and Delhi.
Mumbai-based Blume Ventures is an early-stage seed and pre-Series A venture fund. This is Blume Ventures' third investment this year. Last month, it invested in 1Click.io, a cloud-based video infrastructure product for enterprises. A few days before this investment, Blume put in an undisclosed amount in Mumbai-based Homeveda Media Labs, which runs an on-demand instructional video content platform in the natural health and wellness space called Homeveda.
"In an industry that is as competitive as garment manufacturing, they've developed software and algorithms that are saving 3-7 per cent 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," said Karthik Reddy, managing partner at Blume Ventures.
(Edited by Joby Puthuparampil Johnson)