Ambercycle, a Los Angeles CA-based materials science company, raised $21.6M in Series A funding.
The round was led by H&M CO:LAB, Kirkbi, Temasek, BESTSELLER’s Invest FWD, and Zalando.
The company, which has raised a total of $27m, intends to use the funds to scale up production of cycora®.
Founded in 2015 by Shay Sethi and Moby Ahmed, Ambercycle is a materials science company dedicated to ending waste in the fashion industry and creating the ecosystem for infinite textiles. The company’s process, Ambercycling™, separates and purifies post-consumer textile waste at the molecular level to produce regenerated materials that brands and designers can craft into new garments. This simultaneously reduces the materials going into landfills as well as the need to extract finite resources from the planet. Ambercycle’s solution, cycora®, is a breakthrough material that makes use of old garments by regenerating end-of-life textile waste into new fabrics. cycora® serves as a direct replacement to the tens of billions of pounds of polyester used annually, and emulates the functional characteristics of these conventional fabrics while allowing apparel brands and designers to produce high quality garments with circularity in mind. The material has already been used in successful collaborations with Los Angeles streetwear brands like Justin Mensinger, select luxury brands, and most recently by industry giant H&M for its 2021 Circular Design Story Collection.
Over the past few years, the company has proven the technology by building a pilot plant in downtown Los Angeles.
FinSMEs
05/01/2022