Early venture capital fund RainbowSeedFund announced that it provides seed round financing for smart fabric startup Pireta, the exact amount is unknown.
Pireta's technology is derived from the National Physical Laboratory, a unique additive process that adds electrical conductivity to fabrics at any stage from spinning to garments. Pireta's process ensures that it delivers best-in-class conductivity without any impact on the performance, suspension or handling of the garment.
With the support of this round of financing, Pireta can further optimize the use of its core technologies and explore business opportunities for technology. RainbowInvestment Director DrAndy Muir said: "I am very happy to help Pireta put its wearable technology on the market, so that a new generation of discrete devices can be directly woven into our clothing."
Founded in 2017, Pireta aims to commercialize the patented technology developed by the UK National Physics Laboratory. The company's founder is DrChrisHunt, who is also the company's CTO. DrChrisHunt was previously a Principal Scientist at the National Physics Laboratory in the UK, focusing on fabric interconnect solutions. The additive process he invented can metallize a variety of fabrics without affecting the suspension and processing of the fabric.
Pireta has a strong management team. CEOSimonKellard has more than 30 years of experience in cutting-edge technology development and market development. CarlFrancis, who previously worked for Rainbow Portfolio P2i, has joined Pireta as Chairman of the Board. P2i provides nanotechnology for high performance coatings companies.
Recently, Pireta and its partner CPI successfully won the third round of the InnovateUKMaterials&Manufacturing Competition with the smart fabric proposal “TexAnnâ€.
Smart fabrics are used in a wide range of applications, such as military, emergency services and defense, healthcare, fashion, athletics and competitive sports, RFID (RadioFrequencyIdentification). Wearable technology is rapidly growing into an important market, and many companies are now able to weave sensors into fabrics to detect physiological changes and track wearer movement, distance and speed. Such as:
Google and Levi's gesture-sensing fabric ProjectJacquard: Google applies for a patent for gesture-sensing fabrics, and smart jackets with Levi's enter the testing phase
Google and Berkeley University jointly developed the color-changing intelligent spinning line Ebb, Google and Berkeley University to develop a "smart spinning" that will change color, so that the combination of high-tech and fashion is not reborn!
Purdue University scientists invented "thermoelectric semiconductor wires" that allow wearers to rely on body temperature to power devices such as heart rate and respiratory detectors. Use body temperature to generate electricity for clothing! Purdue University scientists invented the breakthrough "thermoelectric semiconductor wire", smart clothing or open a new chapter!
About RainbowSeedFund
RainbowSeedFund specializes in technology companies that invest in deep science and derive from UK research bases. The fund behind the venture capital fund is nine UK public fee research organizations, such as STFC, BBSRC, Dstl, NERC, DepartmentofBusiness, Energy & Industrial Strategy (BEIS). RainbowSeedFund has invested in more than 40 companies to date. The management of RainbowSeedFund is the venture capital fund Midven, which is experienced in the investment of small and medium-sized companies.
Editor in charge: Xu Yuehua
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