Mausmi Ambastha had seen at close quarters the amount of fabric being wasted every day as she has been associated with the garments industry for 12 years. Ambastha was quick to capitalise on the scope for boosting the fabrics industry by cutting wastage and saving on labour and time offered a promising business opportunity.
The startup provides enterprise material management technology to enable manufacturers to buy just the right amount of fabric and use that fabric with minimum wastage. The product has managed to cut down wastage to less than 1 per cent. This translates into savings of up to 10 per cent and millions of dollars for manufacturers, says Ambastha, Co-founder and COO.
It took some time to explain the viability of their product and how it could help companies save money and improve operational efficiency. At first, many apparel manufacturers were skeptical about the product, later they were willing to try. The company may have received a delayed response but it has never faced rejections, says Ambastha. Now Threadsol, which operates out of Bengaluru and Delhi, has a presence in 15 countries.
It’s more than 85-strong client list includes manufacturers of Zara, Adidas, Nike, Levi’s, Victoria’s Secret, JC Penny and Walmart. Indian client list has Aditya Birla Fashion and Retail (formerly Pantaloons), Blackberry’s and Raymond, among others. Despite this impressive list, getting the garments industry to adopt technology is still a challenge for Threadsol.
The startup, which has drawn investments of more than Rs 20 crore from Blume Ventures and Narayna Murthy’s Catamaran Ventures, at one time struggled to stay afloat. Its staff strength across the globe has swelled to 130, and the startup has added several awards to its kitty: Microsoft Bizspark 2012, Grace Hopper Women Entrepreneur of the Year, 2013, Venture Engine 2014, Parivartan Award for sustainability, among others.