Re-Fresh Global, a pioneering company in the field of sustainable textile upcycling, announced the successful closing of a pre-seed funding round of €1.1 million that will help the company further advance its vision of a circular economy in the textile industry.
Re-Fresh Global plans to use the fresh funds to strengthen its research and development activities to further optimize its SMART-UP URBAN MICROFACTORY process and significantly increase its capacity to process textile waste. In addition, the company will intensify its marketing and sales activities to bring its unique solutions to a wider audience and to build new strategic partnerships.
For its founders, the timing couldn’t be better. “The introduction of the IBA EU regulation from January 1, 2025 will mark a turning point in textile waste management. However, at Re-Fresh Global, we strongly believe that we should not wait until the future to take action. I am extremely pleased that we have so much support from particularly well-known investors in our project to transform textile waste into valuable resources. Together, we can tackle the challenges and bring about positive change in the industry,” shares Victoria Kanar, co-founder of Re-Fresh Global.
Founded in 2021 by Viktoria Kanar and Revital Nadiv, Re-Fresh Global is a startup driving a sustainable, end-to-end solution in the industrial sector through an innovative approach to upcycling. The company revolutionizes the textile industry by transforming textile waste into high-value new raw materials (nanocellulose, bioethanol, multifunctional fibers) through a unique process. This groundbreaking concept can be used in a cost-covering way even for SMEs.
The funding round attracted many prestigious investors, including well-known companies and personalities from the international venture capital community and the sustainability industry. Key investments came via the startup’s involvement in the Vision Lab incubator program and fund by Earlybird, a pan-European VC investor specializing in European tech innovators, and from Serpentine.vc, a Swiss venture asset manager.
Other investors who participated in the pre-seed financing include Frank Dupuis of DUPUIS INVESTMENT, an experienced investor in the real estate sector based in Germany, and Michael Ulbrich, Nevis and Accenture partner, who is a global sustainability leader for chemicals and plays a key role in promoting sustainable investments.
Also participating in the funding round are Ina Schlie, founder of Encourage Ventures and a driving force for sustainable innovation in Germany, Ute Zahn, coach and angel investor who has a passion for environmentally friendly startups, and IndieBio from SOSV VC, a San Francisco-based early-stage investor focused on biotechnology and sustainable solutions.
The successful pre-seed financing round is a milestone for Re-Fresh Global and confirms trust and support of the renowned investors in the company and its forward-looking mission.
Read the orginal article: https://www.eu-startups.com/2023/07/berlin-based-re-fresh-global-secures-e1-1-million-to-turn-textile-waste-into-high-value-new-materials/
