Aware™ Launches Funding Round
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By PAGE Editor
Amsterdam, 16 January, 2024 - Aware™, the groundbreaking blockchain-based traceability platform for sustainable textiles has launched a funding round beginning with a SAFE with PRESSTAR CAPITAL, a Singapore-based impact investor with a singular focus on sustainable textile manufacturing.
Following a successful seed funding round in 2022, this recent SAFE represents a pivotal achievement for Aware™. PRESSTAR's investment not only provides immediate capital for Aware™ but also sets the stage for the funding round which will power Aware™'s expansion within the thriving sustainable textiles production industry in Asia. The Founder of Aware™, Feico van der Veen, expressed excitement about the alliance with PRESSTAR, stating,
This collaboration is more than a strategic partnership; it's a proof of confidence by industry leaders. We're eager to leverage these resources for continued growth and to encourage brands to offer more sustainable products and embrace circular practices. The textile industry's impact on our world will only lessen when products can demonstrate the use of truly sustainable materials.Feico van der Veen, founder of Aware™
Image: Founder Feico van der Veen (right) and co-founder Koen Warmerdam (left)
In an industry plagued by challenges in validating textile product sustainability, Aware™ stands out as the first autonomous traceability platform globally. Seamlessly merging physical and digital tracking, Aware™ introduces a "phygital" experience, laying the foundation for a circular economy with authentic material data.
Waleed Shafiqullah, Managing Partner of PRESSTAR, highlighted the strategic move, stating,
PRESSTAR’s purpose is connecting circularity in textile manufacturing, and our investment in Aware™ aligns with our goal to foster upstream transparency. By partnering with Aware™, we invest in a disruptive Digital Product Passport provider, essential for textile products in the EU, enhancing traceability and sustainability. Moreover, we have ensured the robustness of the solution by working alongside Aware™ for the past two years at CYCLO® sustainable fibers, our first portfolio brand.Waleed Shafiqullah, Managing Partner of PRESSTAR
As the textile industry transforms, Aware™ anticipates this accomplishment will solidify its position for the upcoming equity round, fostering continued success and market expansion.
Presstar
Singapore-based PRESSTAR CAPITAL is an impact investor with a singular focus on reducing the environmental impact of textile manufacturing. Since its inception in 2020 it has built a diverse yet connected portfolio of investments to build long-term circularity in the textile supply chain.
About Aware™
Aware™ is an award winning global traceability solution for the fashion and textile industry. Their Digital Product Passport (DPP) is a world’s first game-changing phygital technology that revolutionizes the industry. Because at source a physical tracer is embedded into any type of raw material and each step is validated by each maker in the supply chain (primary data) which automatically ends up on a public blockchain. Leading to a virtual supply chain that follows the physical flow of materials forward, providing primary impact figures.
Aware™'s mission is to minimize the collective impact by maximizing traceability. With their technology, the Dutch company enables brands, suppliers and consumers to make better and more conscious decisions. Making greenwashing a thing of the past, and restoring consumers' trust in sustainability textiles.
The business was founded in 2020 by two Dutch sustainable fashion experts with 25+ and 10+ years of industry experience.
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