Inditex, Youngone join Infinited Fiber Company’s second financing round
Finnish textile waste recycler, Infinited Fiber Company, has successfully concluded a €40 million ($43.75 million) development financing round, with notable support from industry giants including the Inditex Group, Youngone, Goldwin, and the CEO of Fast Retailing, the parent company of Uniqlo.
This round marks the company's second financing phase, with the first part having closed in the summer of 2023, boasting investments from existing backers. Major apparel players like H&M Group, adidas, Bestseller, and Zalando have reaffirmed their commitment to Infinited Fiber, underlining their long-term vision for sustainable fashion.
Infinited Fiber Company specializes in textile recycling technology, utilizing a patented process to transform cotton-rich waste, including old t-shirts, jeans, and production remnants, into Infinna. This revolutionary textile fiber offers the quality and comfort of virgin cotton, yet it is biodegradable, devoid of microplastics, and fully recyclable alongside other textile waste, thus fostering circularity in the fashion industry. Infinited Fiber Company's groundbreaking technology represents a pivotal step towards a sustainable fashion future, exemplifying the fusion of innovation and environmental responsibility in the textile industry.
