Syntetica, a Paris-based materials startup focused on circular textiles, has raised $30 million in a Series A round led by Bpifrance Green Venture, with strategic participation from lululemon and MAS Holdings.
The company develops decarbonised materials for the textile industry using green chemistry, starting with nylon. Syntetica says it has built a process capable of recycling both Nylon 6 and Nylon 6.6 simultaneously, a technical hurdle in textile recycling.
The funding will be used to roll out a commercial demo facility at Michelin Innovation Park - Cataroux. According to the company, the site is expected to recycle millions of garments a year into industrial volumes of virgin-quality nylon.
SWEN Capital Partners and the European Innovation Council also joined the round, while existing backers including EQT Ventures & Growth, 1st Kind, Volta Circle, MILINVEST, Athletico Ventures and Paul-Henri Mathieu continued their support.
The company develops decarbonised materials for the textile industry using green chemistry, starting with nylon. Syntetica says it has built a process capable of recycling both Nylon 6 and Nylon 6.6 simultaneously, a technical hurdle in textile recycling.
The funding will be used to roll out a commercial demo facility at Michelin Innovation Park - Cataroux. According to the company, the site is expected to recycle millions of garments a year into industrial volumes of virgin-quality nylon.
SWEN Capital Partners and the European Innovation Council also joined the round, while existing backers including EQT Ventures & Growth, 1st Kind, Volta Circle, MILINVEST, Athletico Ventures and Paul-Henri Mathieu continued their support.