[Sydney, 20 February 2024] - Bandicoot Imaging Sciences, the deep-tech startup focusing on fabric digitisation, has successfully raised AUD 1 million in pre-seed funding. This latest round of funding will boost innovation and growth for the technology used to create digital twins for physical fabrics, resulting in significantly better 3D texture files for the fashion and textile industries.
Founded with a mission to transform the way fabrics and materials are captured and represented digitally, Bandicoot aims to bridge the gap between physical and digital materials, to accelerate the adoption of Digital Product Creation (DPC) with 3D for textile products. By providing a rich, interactive digital experience of colours, textures and reflections, Bandicoot’s solution makes it possible for users anywhere in the world to quickly digitise physical fabrics with accuracy. The confidence shown by this funding round validates the value to customers, partners, and the industry as a whole.
With support from visionary investors who recognise the company's unique value proposition and market potential, Bandicoot is poised for rapid growth with their fabric digitisation technology. The round was led by qonvolv Ventures and included Precision Textiles and Mou Fung Ltd., as well as previous investor, NewSouth Innovations (UNSW).
The newly acquired funding will be utilised to bring Bandicoot's strategic vision to life. This includes scaling fabric digitisation services across the textile supply chains, solving complex technical challenges to strengthen the edge on accuracy and quality, as well as expanding the cloud-based platform with powerful new capabilities.
Jacky Yuen, Qonvolv Ventures, states, "Bandicoot's innovative approach to fabric digitisation is already showing a unique potential to transform the textile industries. We are excited to support their vision and look forward to their continued growth and success."
David Monaghan, CEO of Bandicoot Imaging Sciences, says “this funding round is a double win for Bandicoot. Not only did we raise the required capital, we are also getting industry knowledge and networks from investors that are deeply involved in the textile industries. The support and validation shows that we’re on to something big, and we’re now better equipped to bring some big ideas to life”
Bandicoot Imaging Sciences is a deep-tech startup developing fabric digitisation technology, to transform the way fabrics and materials are captured, used and displayed. With patented technology, Bandicoot empowers manufacturers, brands and designers to create better products with 3D technology.
For more information about Bandicoot Imaging Sciences and its fabric digitisation solutions for 3D and DPC, visit www.bandicootimaging.com or contact:
Jorgen Sevild, Chief Growth Officer at jorgen.sevild@bandicootimaging.com.
qonvolv Ventures is a strategic industry investor. With its heritage deeply rooted in textile and apparel manufacturing and innovation, qonvolv Ventures systematically identifies opportunities within Tessellation Group and beyond, deploying resources and developing partnerships with various stakeholders to deliver value and impact across multiple sectors, in areas spanning manufacturing excellence, digital value chain, climate actions, and future workforce.
For more information about qonvolv Ventures, visit www.qonvolv.ventures or reach out at connect@qonvolv.ventures / +852 2960 6588.
