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Social Impact Ventures backs We aRe SpinDye’s water friendly textile tech

ImpactAlpha, September 3 – The textile industry causes nearly 20% of industrial water pollution, primarily from processes like dying and finishing.

Swedish startup We aRe SpinDye has devised a water- and toxin-free textile dying process. “We can introduce the color early in the manufacturing sequence. With this method, the exact color is integrated into the material from the beginning, without the use of water or toxins,” the company’s website states. The company claims the process also ensures that textile color is longer-lasting.

Dutch impact fund Social Impact Ventures has invested an undisclosed amount in We aRe SpinDye. The Hague-based Textile Innovation Fund, Bestbase Group and Axel Mörner have also backed the venture.

Social Impact Ventures, which launched in 2014, typically makes investments of €500,000 to €3 million ($580,000 to $3.5 million). It has previously backed eight other companies, including a recent investment in biofuels company GoodFuels.

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