Impact Investing | January 5, 2022

Ambercycle scores $21.6 million to recycle textile waste

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, January 5 — More than half of all garments are thrown out within a year. L.A.-based Ambercycle converts end-of-life textile waste into premium fabric for fashion industry partners. “The transition to circularity in fashion is inevitable,” said Ambercycle’s Shay Sethi.

The Series A round was backed by KIRKBI, Temasek, Bestseller’s Invest FWD, Zolando and H&M Group. Ambercycle aims to reach commercial scale with brands such as H&M and Justin Mensinger.

Sustainable fashion

Evernu’s NuCycle process allows fashion and textile companies to disassemble materials to create new garments. The Renewal Workshop works with brands to renew existing products. Vaayu’s carbon-tracking platform helps fashion companies track and manage their carbon footprint.