A number of major clothing names have taken part in the latest funding round for Infinited Fiber Company (IFC) with the business having raised €30 million in new capital from a group include existing investor H&M, plus Bestseller, Adidas and others.
The firm’s tech turns cellulose-based raw materials, like cotton-rich textile waste, into Infinna.
This is described as “a unique, premium-quality regenerated textile fibre with the natural, soft look and feel of cotton”.
It’s biodegradable and contains no microplastics.
Importantly too, garments made with it can be recycled in the same process with other textile waste.
Bestseller said its funding for the Finnish company also comes with a multi-year sales agreement for the firm’s fibre, Infinna.
It has been collaborating with IFC and its patented Infinna fibre for some time “looking at the potential to put the fibre into production – as well as the investment potential”.
Meanwhile H&M Group, which was already an IFC investor, led the new funding round and said it’s seeking to “close the loop in fashion and make circularity an everyday reality”.