Domestic start-up ‘Thread in Motion’ received a new investment from Sabanci Ventures with a valuation of 100 million TL.
Thread in Motion has received a new investment from Ak Portfolio Management Inc. Sabanci Holding Private Venture Capital Investment Fund and its valuation reached 100 million TL.
Thread in Motion is a technological start-up developing smart solutions and intelligent wearable technology solutions in production, logistics and warehouse management fields, and operating as a supplier both in Turkey and important companies in the world.
In addition, the start-up is also included in the HUB Venture Capital and Vinci Venture Capital portfolio.
Public Disclosure Platform stated that:
‘’Our company’s subsidiary Tim Smart Clothing and Information Technology Inc., has received a new investment from Ak Portfolio Management Inc. Sabanci Holding Private Venture Capital Investment Fund on September 29. The share rate of our company, whose capital increased from 69,661 TL to 82,074 TL, changed to 10.01% (the previous 11.79%) with this investment.
This capital increase was approved at the Extraordinary General Assembly of Tim Smart Clothing and Information Technology Inc. held on 23.09.2020, and the process will be completed with the registration of the general assembly resolutions.
We present it to the information of shareholders and the public.’’
The company received it’s latest investment in July 2019 with a valuation exceeding 50 million TL. Since then, it has increased its valuation approximately 2 times. The company announced the smart bracelet SKADI 3 months ago, which specifically adjusts the social distance of the production areas.
source: AA / translated by Melisa Karayusufoglu