3D fashiontech startup Bandicoot Imaging Sciences banks $1 million pre-Seed round

Fashiontech startup Bandicoot Imaging Sciences has raised $1 million in pre-Seed funding for its fabric digitisation technology.

The round was led by Hong Kong VC qonvolv Ventures and included Precision Textiles and Mou Fung Ltd., as well as previous investor, NewSouth Innovations from UNSW. 

Bandicoot Imaging previously raised $330,000 in July 2020 in an angel round backed by Audinate founder David Myers, and fintech founder Scott Newham.

The startup was cofounded by Dr David Monaghan, Dr Matthew Arnison, Dr Peter Fletcher and David Karlov, who worked together as engineers who in Canon Australia’s R&D arm founded Bandicoot Imaging. The developed their idea after discovering the astonishing return rate for online purchases – around one third.

The fresh capital will be used boost innovation and growth for the technology used to create digital twins for physical fabrics, resulting in significantly better 3D texture files for the fashion and textile industries. 

Bandicoot is developing fabric digitisation technology, to transform the way fabrics and materials are captured, used and displayed in 3D. They want to bridge the gap between physical and digital materials, to accelerate the adoption of Digital Product Creation (DPC) with 3D for textile products. Their solution makes it possible for users to quickly digitise physical fabrics with accuracy, so what potential customers see is what they get.

Its potential is even more valuable for challenging fabrics such as those with metallic threads or a satin finish, where the appearance varies dramatically depending on the viewpoint of the observer.

CEO David Monaghan said the investment validates the value of their tech to customers, partners, and the fashion industry as a whole. 

“This funding round is a double win for Bandicoot. Not only did we raise the required capital, we are also getting industry knowledge and networks from investors that are deeply involved in the textile industries,” he said.

“The support and validation shows that we’re on to something big, and we’re now better equipped to bring some big ideas to life.”

The plan to use the money to scale fabric digitisation services across the textile supply chains, solving complex technical challenges to strengthen the edge on accuracy and quality, as well as expanding the cloud-based platform with powerful new capabilities. 

Jacky Yuen from Qonvolv Ventures said: “Bandicoot’s innovative approach to fabric digitisation is already showing a unique potential to transform the textile industries. We are excited to support their vision and look forward to their continued growth and success.”