Espoo-based sustainable fashion innovator Infinited Fiber Company has raised €30 million in its latest funding round led by H&M Group. In addition to the Swedish fashion giant, Adidas and Bestseller contributed to the round. Other investors included viscose producer Sateri and investment companies Nidoco and Security Trading.
Infinited Fiber’s technology turns textile waste into Infinna™ fibre. Fashion companies have expressed high interest in the sustainable, cotton-like material. For example, H&M Group and Bestseller have both announced significant sales deals with Infinited Fiber.
The €30 million investment allows Infinited Fiber to proceed with preparations for its flagship factory investment. The new factory, located in Finland, will produce 30,000 tons of fibre annually.
Image: Infinited Fiber