Evrnu raises $ 15 million in Series B funding

Evrnu’s NuCycle technology enables products to be made from garments discarded multiple times using regenerative fiber technologies. Photo: Katie Lomax / Evrnu

Textile company Evrnu announced the raising of $ 15 million in Series B funding to scale and meet growing demand for its fiber regeneration platform, NuCycle, as a solution to the textile waste crisis.

The tour was led by FullCycle climate partners, which will also serve as an important partner for the financing of the project. Other brands and supply chain partners joining the cycle as co-investors include Hansae, Bestseller and PDS company, Multinational PDS Modes“Risk technology portfolio. The latest news brings Evernu’s total raised to $ 24 million, after a first round of investment of $ 9.1 million.

Evrnu’s NuCycl technology enables products to be made multiple times from discarded clothing using regenerative fiber technologies. Products made with NuCycl can be disassembled at the molecular level and regenerated multiple times into home and industrial clothing and textiles. Evrnu already works with companies including Levi’s, Adidas and Target to license its technology.

Evrnu’s technologies help achieve a circular economy by reusing instead of creating waste. The NuCycl platform depolymerizes textile waste and repolymerizes it into virgin fibers. Having already developed the technologies to recycle more than 90% of all clothing, the company is on track to have technologies to successfully recycle all textiles by 2030.

The funding will be used to expand Evrnu’s facilities and operations in South Carolina and serve greater volumes of NuCycl fibers to the fashion industry. It will also allow for more hiring in growth functions and technical roles as the company expands NuCycl’s global deployment. In addition, Evrnu has advanced research and development contracts underway in the fashion industry as well as the furniture and automotive industries.

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