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Smartex raises $24.7M Series A
- Indian Textile Magazine
Smartex has developed hardware-enabled, machine-vision driven software to detect textile defects in real-time. This automated identification process reduces textile waste, CO2 emissions, energy, water, production time and capital expenditure by automatically shutting down production in order to prevent waste of materials. Defects in the textile industry tend to be compounded, meaning that when fabric travels down the supply chain with defects that were not detected it often leads to entire textile rolls being discarded or burned, causing enormous environmental and financial impact in one of the world’s largest industries.
The textile and fashion industry is the 3rd most polluting industry in the world – producing a monstrous amount of textile waste each year with no signs of slowing down.. It is estimated that 150 billion garments are produced annually in this $3T industry which accounts for 20% of global water waste and 10% of global carbon emissions.