EQT Ventures’ Post

Swedish VC firm Chalmers Ventures backs Vividye’s sustainable dyeing technology with million-dollar investment Swedish VC firm Chalmers Ventures has invested a million dollars in Vividye, a Gothenburg-based deeptech company specializing in sustainable dyeing technology for fibers and materials. Vividye’s process, based on research from Chalmers University of Technology, eliminates the need for harsh chemicals traditionally used in dyeing processes, reducing environmental impact. The investment will support Vividye’s product development, sales efforts, and entry into international markets through collaborations with global partners. This funding is seen as a validation of Vividye’s innovative approach and its potential to address sustainability challenges in the paint industry. https://lnkd.in/dR4YGX4X #funding #nordicmade #sweden #sustainability #textiletech #deeptech #startups #trending

💰💼 UNCAGED INNOVATIONS RAISES $5.6M TO COMMERCIALISE ITS GRAIN-BASED, PLASTIC-FREE LEATHER ALTERNATIVE UNCAGED Innovations, which makes vegan leather from grains, has closed a $5.6M seed investment round led by Green Circle Foodtech Ventures and Fall Line Capital, with Ponderosa Ventures, Golden Seeds, and InMotion Ventures also participating. The latter was also part of the biomaterials startup’s $2M pre-seed round in June 2023. While the previous capital injection was earmarked for scaling up operations to produce millions of metres of its alt-leather annually, the latest round will help it build out its manufacturing team and bolster its market launch plans. “What Uncaged Innovations has achieved with its grain-based technology is a significant breakthrough in an industry that has long awaited a breakout innovation,” said Green Circle Capital founder and managing director Stu Strumwasser. Founded in 2020 by CEO Stephanie Downs and Xiaokun Wang, the New York-based startup claims to be the first to have developed leather made from grains. It does so by deploying its tech platform, BioFuze, with roll-to-roll manufacturing techniques. Uncaged Innovations blends plant-based collagen with other biomaterials to build a fibral network that replicates the texture and performance of animal-derived leather. An independent life-cycle assessment has shown that its grain-derived leather emits 95% fewer greenhouse gases, requires 93% less water, and consumes 72% less energy than conventional leather. Read the full article here: https://lnkd.in/ej-rm6PX #GreenQueen #altmaterial #leather #fashion #sustainability #innovation

#Fashion is one of the most #polluting industries in the #world, generating huge volumes of greenhouse gas emissions: in 2024 it is estimated to produce 1bn metric tons of carbon dioxide. “Go big or go home” might not be the official thesis that powers Swedish 🇸🇪 #billionaire Harald Mix’s company builder and investment firm Vargas Holding, but it’s a fair way of describing its strategy. It’s already cofounded ambitious projects like battery giant Northvolt, sustainable steel manufacturer H2 Green Steel and heat pump startup Aira, the fastest-growing startup in the Nordics. Vargas launched Syre, as a joint venture with H&M, after conversations about the clothing maker’s problems with #recycling #textiles. Vargas is doing it again with its two-year-old textile recycling startup Syre (meaning “oxygen” in Swedish), which has announced the closure of its $100m Series A. The round was led by US-headquartered private equity firm TPG Rise Climate, which is investing $50m. Syre was born following a meeting, set up by Northvolt and H2 Green Steel board member Susanna Campbell, between Vargas and H&M. H&M has invested in several recycling companies in the last decade, such as Finland’s Infinited Fiber, UK startup Worn Again, Finnish Spinnova and Sweden’s Renewcell, which H&M had a 10% stake in but filed for bankruptcy in February. Source: https://lnkd.in/e68zcmbA #Fashion #Pollution #Recycling #Sustainability #World

A Cambridge startup that develops sustainable, plant-based pigments has raised $3.2 million in early stage funding and plans to launch a Series A round in the coming months to upscale production capacity and accelerate commercialisation. https://lnkd.in/eCz6n64x Sparxell is commercialising products designed to eliminate synthetic chemicals from colourants in multibillion dollar markets such as cosmetics, fashion, paint and packaging. The Circular Innovation Fund, a global venture capital fund jointly managed by Demeter and Cycle Capital with L'Oréal as an anchor investor, participated in the seed funding round alongside others including SpaceX-backer Future Communities Capital, PDS Ventures, Katapult, Joyance Partners and SNØCAP VC. Sparxell was founded in 2022 by Cambridge scientists, led by CEO Dr Benjamin Droguet and Professor Silvia Vignolini, who discovered ways to replicate vibrant colours in nature using fully plant-based cellulose, a renewable, biodegradable resource that can be extracted from waste streams. Sparxell’s pigments use the same material that many plants and animals use to produce vivid, durable, and fade-resistant colourants. The products are toxin-free and fully biodegradable with a colour intensity that lasts longer than traditional colourants and pigments on the market. The company has already engaged in product innovation partnerships with blue-chip companies across different industries including leading car manufacturers, world-leading high-end fashion brands, and cosmetic goods manufacturers. Dr Droguet said: “Traditional chemical colourants are causing major environmental harm through every stage of their lifecycle, from manufacture to degradation. Over 10,000 fossil-based chemicals are used in current colouration processes. “The textile industry is a well-known emitter of dyes and microplastics, with over 1.5m tonnes entering the environment every year, while paint has recently been recognised as the largest source of microplastics in the ocean. “Our plant-based materials can be grown and sourced locally in a complete rethink of how colours are currently being manufactured while reducing transport emissions.” The colourants market is worth an estimated $38 billion and is expected to grow to over $100 billion by 2030. Sparxell is targeting specific markets including beauty (colour cosmetics, personal care, creams, sunscreens, glitter make-up), fashion (textile colouring, embellishments, sequins), packaging (bulk colouring, films, foils), and paint (automotive, building).

Finland’s Paptic wraps up €27.5M boost to unleash eco-friendly packaging revolution across the globe Espoo-based Paptic Ltd recently concluded a growth financing round, raising a total of €27.5 million with significant contributions from investors such as UB FIGG (UB Forest Industry Green Growth Fund), Emerald Technology Ventures, SIG InnoVentures, and EIC Fund - European Innovation Council and SMEs Executive Agency (EISMEA). The company specializes in the production of wood fiber-based packaging materials as eco-friendly alternatives to conventional plastics. The secured funding is earmarked for global expansion efforts, improving the company’s ability to cater to international clients, and supporting the scaling up of Paptic’s foam-based manufacturing technology. https://lnkd.in/dZMzCgut #funding #nordicmade #finland #sustainability #packaging #circulareconomy #renewables #startups #trending #trending

Harald Mix firm Vargas Holding is known for launching ambitious projects like Northvolt and H2 Green Steel. Its latest venture, Syre, a textile recycling startup co-founded with H&M, has secured $100 million in Series A funding. Syre aims to address the large-scale recycling of polyester, leveraging Vargas’s model of recruiting experienced teams and scaling technology quickly. The funding round was led by TPG Rise Climate, with additional investments from Giant Ventures, Norrsken VC, H&M, Volvo Cars, and the IKEA-linked IMAS Foundation. “If we need to drive this climate transition, we need to do it at large scale, quickly, and in parallel…Our substantial size has not been seen before (in this industry). That is important, but what makes a real difference is our ability to scale to an attractive price point,” said CEO Dennis Nobelius. #Sustainability #TextileRecycling #GreenInnovation #CircularEconomy #ClimateAction #TechForGood #SustainableFashion #VentureCapital #PolyesterRecycling #GreenInvesting #RenewableResources #EcoFriendly #ClimateTech #ClimateChange

Swedish startup secures $100M Series A, shortlists Vietnam and Iberia for gigascale plants in textile recycling revolution Syre, a Stockholm-based textile impact company launched in March this year by Vargas Holding and H&M Group, has secured a significant milestone with a $100 million Series A funding round. The investment, led by TPG Rise Climate, with additional contributions from founding investor H&M Group and strategic partners like Giant Ventures, IMAS Foundation, Norrsken VC, and Volvo Cars, underscores a strong commitment to drive sustainable change in the textile industry. The funding will support the construction of a blueprint plant in the U.S. and lay the groundwork for the company’s first two gigascale textile-to-textile recycling plants, with Vietnam and Iberia shortlisted as potential locations. Syre’s innovative recycling process, fully acquired through this equity funding, promises to revolutionize the industry by transforming post-consumer waste into circular polyester efficiently and at scale. https://lnkd.in/dShN8R3v #funding #nordicmade #sweden #startups #textiletech #fashiontech #sustainability #trending

Sweden’s Gaia Biomaterials secures $5 million for global expansion of eco-friendly products GAIA BioMaterials AB, a Helsingborg-based company focused on sustainable solutions, recently completed a $5 million rights issue. This funding round was supported by Almi Invest Greentech, a Swedish state-owned greentech venture capital fund, as well as private investors from both international and domestic markets. Gaia Biomaterials is known for its innovative product, Biodolomer, which is made from limestone and is fully compostable. This material serves as an eco-friendly alternative to fossil-based plastics, with applications ranging from drinking cups to grocery bags. The company plans to use the funds to expand its market presence in key regions such as the United States and India. This expansion strategy includes enhancing its global network of commercial agents by providing them with the necessary training and support. https://lnkd.in/d9UMnamp #nordicmade #sweden #funding #startups #foodpackaging #biotech #greentech #foodtech #trending

Exciting News in Sustainable Innovation: Bioworks, a trailblazing Japanese bioplastic startup, has just received a boost with fresh funding from investors including Purpose Venture Capital. This infusion of capital will propel Bioworks' efforts in advancing their R&D, enhancing talent, and broadening their eco-conscious product line. At the heart of Bioworks' mission is PlaX - a cutting-edge, carbon-neutral bioplastic that's changing the game in sustainability. Partnering with textile giant Yagi, Bioworks is set to revolutionize the industry, pushing boundaries with materials that promise a 35% CO2 reduction compared to polyester. Dive into a future where innovation meets responsibility! #SustainableTech #Bioworks #GreenInnovation #VentureCapital #Bioplastic #PlaX #Sustainability

#Woola, an #Estonian startup, raises €2.5 million. Instead of using #plastic packaging, the company makes #protective wool packing. Every year, 141 million #tonnes of plastic packaging are produced; only 14% of this is gathered for recycling, and even less of that is #recycled. Leading the #fundraising is Metaplanet, with new angel investors joining them, as well as Woola’s 2021 investors Future Ventures and Lemonade Stand. Additionally, as #sheep wool is too coarse for the #textile industry, up to 90% of it is burned or buried in #European nations, resulting in 200,000 tonnes of wasted wool #yearly. Woola plans to use the additional #funding to broaden its product range for the luxury and e-commerce #industries as well as to #bolster its sales and marketing #team. Since its founding in 2020, WoolaÄs has #concentrated on displacing bubble wrap in online sales. The #business is currently #extending its product line to include premium goods. Woola Metaplanet Future Ventures Lemonade Stand Anna-Liisa Palatu Rauno Miljand To share your startup story write us on - contact@startuprise.co.uk #woola #funding #startup