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HELSINKI – Finnish textile recycling technology and business, Infinited Fiber Company, has completed a two-part financing round totalling €40m. The funding includes investments from new investors Inditex, TTY Management, Youngone and Goldwin, in addition to existing ones. The news suggests there is still considerable life in textile recycling investment space despite the recent bankruptcy of Renewcell.

The new investors are Inditex Group, parent company of Zara and other brands, and TTY Management B.V., an asset management company privately owned by Tadashi Yanai, chairman, president and CEO of Fast Retailing.

Outdoor clothing manufacturer Youngone (YOH CVC Fund 1 Limited Partnership) and Japanese premium sportswear manufacturer Goldwin (GOLDWIN Play Earth Fund Investment Limited Partnership) are also among the new investors who joined in the recent second closing of €27m.

The first part of the development financing round, closed in summer 2023, included investments from existing investors. Apparel companies H&M Group, adidas, BESTSELLER, and Zalando reinforced their long-term commitment to Infinited Fiber. Also investment company VTT Ventures participated in the first closing, and investment companies Security Trading and Nidoco AB in both closings of the round, providing strong, continued support.

After the development financing round, Inditex, TTY Management and H&M Group are the largest shareholders of Infinited Fiber Company.

“It is fantastic to have these impactful companies onboard as our new investors. 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,” said Petri Alava, Co-Founder and CEO of Infinited Fiber Company.

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