It says this results in no thread waste, no wastewater and simple colour changes.

Mattias Nordin, CEO of Coloreel, said: “We are noticing a sharp increase in activity as more and more markets open up. Larger orders such as the one recently announced from Tryckhuset AB is great proof that we are on the right track in our ambition to modernise the use of embroidery in the textile industry.”

The embroidery market includes about 8 million installed embroidery heads worldwide, which can be equipped with Coloreel's technology. It is working with machinery Hirsch Solutions to install it in US mills.

The funding will be used to support the company's growth and to expand into new applications such as sewing.

Company founder Joakim Staberg added: “We are receiving new expressions of interest from additional investors, which feels very exciting."