In 2017, True Botanicals received a minority equity investment from Unilever Ventures, a venture capital fund under the umbrella of consumer goods giant Unilever.
Moving forward, Genomatica will leverage its validated biotech platform, using proprietary engineered microbes to produce fermentation-based plant sugars for the sustainable production of surfactant ingredients.
“To truly achieve global decarbonization in our operations, we need to shift from reducing carbon intensity to absolute carbon reduction,” says Kering.
The company is consistently increasing investment in its design department, remaining committed to local production in Italy, and collaborating with textile education institutions to enhance artisanal textile craftsmanship.
“Nevertheless, we can look forward with great confidence, as the need for sustainable innovations in the medium and long term is undiminished, while the demand for environmentally friendly fibers will continue to grow.”says Stephan Sielaff, CEO of the Lenzing Group.
According to a statement released by H&M, the new company is called Looper Textile, with H&M and Remondis each owning a 50% stake.
Along with their funding announcement, Rubi also established initial strategic partnerships with brands such as Reformation, GANNI, Nuuly, H&M, and Patagonia to pilot their innovative solutions.
Circular fashion startup Circ raised almost $9 million in a Series A funding round in 2020, followed by a $30 million Series B round in July 2021, as the company continues to use patented technology to recycle fashion waste and reduce the demand for virgin clothing materials.
The company’s turnover has grown rapidly in the first two years, from 12 million euros to 45 million euros.
This revolutionary fiber, made from a combination of textile waste and lignocellulose, is the product of Swedish forestry group Södra’s groundbreaking OnceMore® technology and Lenzing’s REFIBRA™ technology, a world-renowned fiber producer with TENCEL™ (Tencel) technology.
