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Coloreel raises SEK 100 million for future growth

The Swedish company’s pioneering technology aims to modernize the textiles industry and speak to an increasingly environmentally conscious consumer.

1st February 2021

Innovation in Textiles
 |  Jönköping, Sweden

Clothing/​Footwear, Sports/​Outdoor

Coloreel, with its unique patented technology for the digital dyeing of textile thread, has raised SEK 100 million from Robur Ny Teknik to support the company’s market expansion and future growth.

Henrik Nyblom, manager at Robur Ny Teknik, commented: “Coloreel has a very innovative solution that I think can be very big in the future. The company’s products speak to an increasingly environmentally conscious world and have fantastic sales opportunities in the coming years.”

For just over ten years, the Swedish technology company Coloreel has developed a pioneering technology that enables high-quality digital dyeing of textile thread at the same time as it is used in production. The patented technology can be used for embroidery, sewing, knitting and weaving, and more, the company says.

For a year now, Coloreel’s first product, which is aimed at the embroidery industry, has been sold and marketed. This product gives the embroidery manufacturers a number of advantages such as improved logistics, zero set-up time when changing thread spools between each order, faster production, higher embroidery quality, no thread waste and above all a complete freedom in the use of colours, Coloreel explains. Customers get exactly the right colours, soft transitions and colour effects where only the imagination sets limits, it adds. The technology also provides major environmental benefits with greatly reduced water pollution and more efficient use of resources, the company says, adding that this means great competitive advantages for all types of embroidery manufacturers.

The interest from the market has since the launch been very large, from smaller to the very largest brands in everything from lifestyle and sports to exclusive fashion, Coloreel says. The company has initially chosen to enter into closer collaboration with some of the world’s most famous brands.

The industrial embroidery market is very large and growing continuously, Coloreel says. Approximately 750,000 new embroidery heads are sold annually, and 7-8 million embroidery heads are currently in operation globally, it adds. Each of these heads can be equipped with a Color unit, the company says, and even with moderate market shares, this means billions in sales with very good margins, it adds.

Despite the ongoing pandemic, Coloreel, with the help of existing distributors, has delivered its ground-breaking products to eleven countries in Europe, the United States and Asia, albeit in limited volumes. It has also started business with the world’s largest distributor of embroidery machines, American Hirsch Solutions, which has already installed the technology with a number of end customers in the USA.

Joakim Staberg, founder and main owner of Coloreel, comments: “It is very fun that Robur Ny Teknik, one of Sweden’s leading institutional investors in technology companies, wants to join us on the journey. It is further proof that we are on the right track. “

Coloreel Website

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