We mentioned about the Turkish 'Textile Tech' start-up Thread in Motion, back in March, 2017. Thread in Motion, which received an investment of 350,000 USD in June 2017, has appeared with new investment news.
Reached a valuation of 50 million TL
According to the information that has been shared, the company valuation of Thread in Motion has passed 50 million TRY with an investment from Vinci Venture Capital, of which StartersHub and İnci Holding are strategic investors. Thread in Motion has managed to become an important supplier of technology companies in Turkey and all around the world with the smart glove it developed. The company has also been supplying technology for world known brands such as Mercedes-Benz, Renault, Bridgestone - Lassa and Honda .
Ebru Dorman, Chairman of StartersHub, who participated in both the previous and the new investment round as an angel investor, said that Thread in Motion provides concrete solutions that can be quickly applied and be beneficial to customers on their Industry 4.0 journey, while providing convenience to end users.
Since 2016 and 2017, StartersHub has invested in Thread in Motion and with this investment round the total investment made for this company has reached 250,000 USD. Vinci Venture Capital Investment Committee Chairman Şelale Zaim Gorton said that they believe they will contribute to growth of Thread in Motion to a global company.
Kadir Demircioğlu, CEO of Thread in Motion, stated that they sold their products to many major brands especially in Turkey in the field of automotive industry, automotive supply industry and logistics and said that they completed the investment tour with demands from Europe and increase in the number of customers. Last but not least, Thread in Motion is also planning to strengthen its presence abroad.