Syntetica funding news – Paris-based Syntetica Secures €4.2 Million in Seed Funding
Jul 16, 2024 | By Team SR
Nylon recycling startup Syntetica secures €4.2 million in seed funding. The textile industry is one of the most polluting industries on the planet, accounting for 10 per cent of global carbon emissions. The vast majority of nylon ends up in landfills or incineration plants.
SUMMARY
- Nylon recycling startup Syntetica secures €4.2 million in seed funding.
- Syntetica's depolymerisation technique separates materials fibres so they can be rerouted back into clothing manufacturing in a cost-effective, low-carbon feedback loop.
This is due to the fact that virgin nylon is frequently mixed with other fibres, such as polyester, elastane, and cotton. This makes recycling energy- and money-intensive, but it also provides it additional properties for widespread use in sportswear, outdoor gear, hosiery, and high-performance/automotive textiles.
With no pressure and low temperature, Syntetica's exclusive depolymerization approach dissolves the chemical bonds holding nylon and other fibres together in blended textiles. Through this procedure, the different fibres are separated and then redirected into the clothes manufacturing industry, creating a low-cost, low-carbon feedback loop.
Because the feedstock agnostic approach makes use of readily available chemicals and pre-existing laboratory equipment, it has enormous scalability potential. The top lingerie brand in France, Etam, is presently collaborating with Syntetica to introduce a capsule collection made of recycled materials from Syntetica's manufacturing process.
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Marco Bertone, co-founder and Chief Executive Officer at Syntetica, commented: "We founded Syntetica to deliver a practical solution to permanently close the loop in nylon recycling, meaningfully reducing retailers' carbon emissions and preventing millions of tonnes of garments from being consigned to landfill.To have the backing of EQT Ventures, a leading climate tech investor, and a number of tier-one fashion retailers so early on in our journey is a huge endorsement of our technology. We are excited to build on this momentum, grow the team, and kickstart production."
Laurent Milchior, Chairman and Chief Executive Officer at Etam Group, commented: "Decarbonisation and sustainability are at the top of our agenda and in the fashion industry this starts with textile manufacturing. Etam Group is working hard to reduce its supply chain's environmental impact and to this end, we are delighted to be partnering with Syntetica, whose novel solution to nylon recycling is unique in the market and pioneering the shift towards widespread circularity technology."
The funding was led by EQT Ventures, with participation from the Peugeot and ETAM family offices, Volta Circle (the family office of Indorama Ventures' shareholders), Better Angle, Pareto Holdings, Athletico Ventures, Bear Flag Capital, and prominent angel investors including former tennis player Paul-Henri Mathieu, CEO of IDEC Group, and two-time Formula-E champion Jean-Éric Vergne.
Thomas Poitrineau, Director at EQT Ventures, added: "From the early days of our partnership, Marco's and Louis' technical expertise and entrepreneurial flare immediately impressed me. So too did their ambition to solve one of the most pressing and complex challenges facing clothing retailers today — it was clear we had a similar methodology for approaching climate issues and the founder-investor fit was effortless from day one."
With the new funding, Syntetica plans to expand its team's technological capabilities and start manufacturing the first completely recycled nylon materials for the fashion and automotive industries. By mid-2026, the goal is to be at a pre-industrial stage.
About Syntetica
Syntetica's depolymerisation technique separates materials fibres so they can be rerouted back into clothing manufacturing in a cost-effective, low-carbon feedback loop.