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™
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.
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.
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.
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