Infinited Fiber Company, a Finnish fashion technology firm, has announced a significant funding milestone, securing €27M in a new round. This round completes a two-part development financing totaling €40M, attracting substantial investments from new backers including the Inditex Group, TTY Management, Youngone through YOH CVC Fund 1 Limited Partnership, and Goldwin via GOLDWIN Play Earth Fund Investment Limited Partnership.
This funding achievement follows a successful round in the summer of 2023, which saw contributions from major industry players such as H&M Group, Adidas, BESTSELLER, and Zalando. VTT Ventures participated in the first closing, with Security Trading and Nidoco AB continuing their support in both rounds.
Petri Alava, Co-Founder and CEO of Infinited Fiber Company, expressed enthusiasm about the new investments, highlighting their importance for scaling up the production of Infinna™, the company’s flagship product. “This investment is crucial for further advancing the scale-up of Infinna™, and it underscores the industry’s confidence in our technology as one of the key enablers for circularity in the textile sector,” Alava stated.
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Revolutionizing the Textile Industry with Infinna™
Infinited Fiber Company, founded by Petri Alava, addresses significant challenges in the textile industry, including excessive waste production, limited natural resources, and a growing demand for sustainable options. The company’s patented technology transforms cotton-rich textile waste, such as worn-out t-shirts, jeans, and production scraps, into Infinna™, a virgin-quality, versatile textile fiber that mimics the soft and natural feel of cotton.
Infinna™ is a biodegradable fabric free from microplastics, promoting circular fashion by enabling garments made with Infinna™ to be recycled with other textile waste at the end of their life cycle.
Building the First Commercial-Scale Circular Infinna™ Fiber Factory
Infinited Fiber Company is in the process of constructing its first commercial-scale circular Infinna™ fiber factory at the site of a discontinued paper mill in Northern Finland. The factory is expected to produce 30,000 metric tons of Infinna™ annually, sufficient to create approximately 100 million T-shirts, marking a significant step towards sustainable and circular textile production.
With this latest funding round, Infinited Fiber Company is poised to further its mission of making textile circularity a reality, contributing to a more sustainable and environmentally friendly fashion industry.
