Syntetica raises €4.2M to close the loop in nylon recycling
Summary
"We founded Syntetica to deliver a practical solution to permanently close the loop in nylon recycling, meaningfully reducing retailers carbon emissions and preventing millions of tonnes of garments from being consigned to landfill. To have the backing of EQT Ventures, a leading climate tech investor, and a number of tier-one fashion retailers so early on in our journey is a huge endorsement of our technology. Etam Group is working hard to reduce its supply chains environmental impact and to this end, we are delighted to be partnering with Syntetica, whose novel solution to nylon recycling is unique in the market and pioneering the shift towards widespread circularity technology.Etam will launch a fully recycled textile prototype with Syntetica in 2025 which will be the basis of a first-of-its-kind capsule collection arriving in 2026.EQT Ventures led the funding with participation from the family offices of Peugeot and ETAM, Volta Circle (Indorama Ventures shareholders family office), Better Angle, Pareto Holdings, Athletico Ventures, Bear Flag Capital and high-profile angels 2-time Formula-E champion Jean-\xc9ric Vergne, IDEC Group CEO Patrice Lafargue, and former tennis player Paul-Henri Mathieu. So too did their ambition to solve one of the most pressing and complex challenges facing clothing retailers today it was clear we had a similar methodology for approaching climate issues and the founder-investor fit was effortless from day one. "Syntetica will use the fresh capital to add additional technical talent to the teams existing expertise and begin producing the first fully recycled nylon materials for fashion and automotive clients.