Brian Laung Aoaeh, CFA’s Post

Brian Laung Aoaeh, CFA

I invest in early-stage startups refashioning legacy industries @ REFASHIOND Ventures: The Industrial Transformation Fund across Data & AI, Advanced Materials, Advanced Manufacturing, and Next Generation Supply Chains.

5mo Edited

On May 2, 2024 REFASHIOND Ventures: The Industrial Transformation Fund convened people from around the world for Supply Chain & Industrial Transformation: The Next Generation (Silicon Valley 2024) at the JP Morgan Chase Palo Alto Technology Center in Palo Alto, CA. In this showcase Constanza Gomez demonstrates how Sortile enables the sorting of post-consumer waste textiles and apparel using near infrared spectroscopy. Sortile is a startup in our portfolio at REFASHIOND Ventures: The Industrial Transformation Fund. Our Thesis: REFASHIOND Ventures: The Industrial Transformation Fund invests in early stage startups refashioning legacy industries through Data & AI, Advanced Materials, Advanced Manufacturing, & Next Generation Supply Chains; Defensible through economic moats. More in the video below. #SCITSV2024 #SCITSV2024Showcase

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Hi everyone, I'm Constanza. I'm one of the cofounders of Sore Tile. And we primarily work with textiles. I don't know how many of you know, but there's 92 million tons of textiles that are wasted every year and end up in landfills all across the world. This is actually a picture of the Atacama Desert. It's the second largest textile dumping ground in the world. And it's in my home country of Chile. And it's how I became extremely, extremely passionate about this problem as I was doing supply chain research for retail companies at the time. And today, less than 1% of textiles is recycled. And when I kind of stumbled on this, obviously once you see it, you can't Unsee it. And the natural question was why, right? And when you think about stuff that ends up in these landfills. It's clothing like, why couldn't that be recycled when there's so much recycling in other industries, right? And the complexity with clothing is that most people don't really know what it's made out of. Um, you put clothes on every day, you interact with textiles every day, whether it's curtains or carpets or, you know, a bunch of stuff around you. But you don't really know what it is. And when you talk about recycling, the only way to recycle is to actually know what you're putting in the process. And so it really came down to our trust problem. Can you, you know, accurately be able to identify these textiles and the way that these taxes were being sorted at them time and honestly still today it's been reading clothing tags. But there's signific. In research that shows that clothing tags don't really tell the truth, the Circular economy did a whole research paper showing that 40% of clothing tags. Have mistakes and 20% of those are not small mistakes, 40% or more of a variation of what that clothing tags as. So not even the people producing the textiles and buying those textiles even know what that is. And that's a huge problem for the recycling market. But honestly, it's a huge problem for the producers as well. They're purchasing these materials that they think they're getting and many times they're not. And so that's why we started sort out to really provide the textile industry with an end to end management system that's able to identify, trace and eventually recycle these textiles. We're able to provide the industry with trustless fibers. You no longer have to trust that the label is correct. You can actually just verify it with really quick and efficient technology. I'll show you how it works. No. What happened? OK, so here in the podium which you can't really see, let me finish it. I have a little machine. And the way this works is really simple. You take an article of clothing. Literally just place it on top and it'll tell you what it's made out of. It takes less than a second to get an identification and we have accuracy rates of over 95% we've been able to reduce. Costs around sortation and about 40% and in some cases over 80%. It's significantly faster and significantly more accurate and you're able to divert these tax cells to the best and use and so for example, instead of for when you received the bail and you got hundreds of pounds that weren't fit for reuse. The natural next step was incineration or waste to energy or landfill in our case. You can actually sort it, send it to a fiber to fiber recycler. And not only is it better for the environment, but you're selling it to a fiber to fiber recycler, you're actually making more money off of it. So it's a the best equation for all of these companies to provide, you know, new technology to an industry that's done manual sorting for ages to actually. But have traceable and trustless fibers to work with them across the supply chain. In addition, we collect data from our own device and to a series of other IoT devices in these platforms that allow us to provide the traceability for all of these items. And so we're able to provide for example, brands without comprehensive report of what happens to everything in their take back program. How much of it went to Rewire? Which markets? Did it end up locally in the US, Did it go abroad, where abroad, what clients? We're one of the only companies that's able to provide real time data on what happens when textiles and clothing stops being used. Thank you.

Data Centre Engineer

5mo

Interesting event at the JP Morgan Chase Palo Alto Technology Center. Sortile sounds innovative. #SCITSV2024 #REFASHIONDVentures

⚡️ Paul Canetti

⚡️ Paul Canetti

I will make you nerdier.

5mo

🔥

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