A leading Finnish fashion and textile technology firm, Infinited Fiber Company has successfully concluded a €40 million funding round with investments from prominent new investors such as Inditex, TTY Management, Youngone, and Goldwin, alongside existing backers.
This marks the second round of investments for the company, following the initial closure in the summer of 2023, which saw H&M Group, Adidas, Bestseller, and Zalando join forces with investment entities VTT Ventures, Security Trading, and Nidoco AB.
Petri Alava, Co-founder and CEO, highlighted the pivotal role of this investment in advancing the scale-up of Infinna, the company's flagship product. Alava emphasised that the industry's confidence in their technology solidifies it as a key driver for circularity in the textile sector.
The new investors represent heavyweight entities in the retail domain. TTY Management, owned by Tadashi Yanai, the influential figure behind Fast Retailing, which oversees brands like Uniqlo, Theory, J Brand, and Comptoir des Cotonniers, stands out among them.
Inditex, the parent company of Zara, has unveiled ambitious sustainability targets, aiming to accelerate emission reductions. The strategy entails slashing scope 1 and 2 emissions by 90 per cent from a 2018 baseline, while reducing value chain emissions (scope 3) by 50 per cent of 2018 levels. The company has set the ambitious goal of achieving ‘net zero’ emissions by 2040, intending to utilise offsets to tackle the remaining 10 perc ent of emissions that are challenging to eliminate.
Infinited Fiber Company specialises in Infinna, a revolutionary cellulosic fiber derived entirely from textile waste. Resembling cotton in look and feel, Infinna serves as a sustainable alternative for crafting various apparel items, including T-shirts, jeans, blouses, dresses, hoodies, and more. With the support of these investors, Infinited Fiber Company aims to further its mission of promoting sustainability within the fashion and textile industry.
