ThreadSol reports 13 crore revenue last financial year, plans further innovations

By

Isabelle Crossley

Published
Sep 20, 2017

Operating out of Bengaluru and New Delhi, ThreadSol announced that, after once being on the brink of bankruptcy, they managed to gross 13 crore rupees (approximately 2 million dollars) revenue in the last financial year.

ThreadSol specialises in material management technology and now offers their technology as both a one- time buy and monthly subscription service. The company now boasts a client list that includes international brands such as Nike, Levi’s, Victoria’s Secret, Zara, Addidas, Wakmart, and JC Penny and Indian brands such as Aditya Birla Fashion and Retail, Raymond, and Blackberry’s.

ThreadSol recently announced on its social media sites that it has launched a new consultancy solutions product along with its current products called ThreadSol Experts. This innovation is intended to help fashion and apparel businesses to find personalised solutions for saving time and money as well as offering explanations of their pre-existing products. Because ThreadSol’s products are rather niche, the business’ Co-Founder and COO, Mausmi Ambastha, said: “It’s the problem of being the first-mover. Very few technologies exist in the garment and apparel domain, so many big players are still reluctant in adopting technology, despite its compelling value proposition.” Brand scepticism once took the company to the edge of failure with only one month of financing left, but constant innovation and market research has now made the business a serious player. Ambastha stated that such innovation will continue and said: “We are constantly innovating our current products, updating and upgrading every three months to offer better solutions.” 

ThreadSol is based in Singapore and was founded in March 2012 by Mausmi Ambastha, Manasij Ganguli, Abhishek Srivastava, and Bratish Goswami aiming to reduce waste in the fashion industry and saving on both labour and time. Some of the main products/ services the business offers are intelloCut to increase fabric utilisation, intelloBuy to help with fabric buying, and intelloTrace to help manufacturers trace production at all levels. The company is now present in 15 countries.