Infinited Secures €40 Million In Backing

Business

Infinited Secures €40 Million In Backing

Infinited Fiber Company has successfully completed a two-part financing round totalling €40 million, with significant new investments from Inditex, TTY Management, Youngone and Goldwin.

Infinited based in Espoo, Finland, is the developer of a patented technology to turn cotton-rich textile waste such as worn-out t-shirts, jeans and production scraps into Infinna, a virgin-quality textile fibre with the soft and natural look and feel of cotton. Infinna is biodegradable, contains no microplastics, and garments made with it can be recycled in the same process together with other textile waste.

Inditex is the parent company of Zara and other brands, and TTY Management is privately owned by Tadashi Yanai, chairman of Fast Retailing. Leading outdoor clothing manufacturer Youngone and Japanese premium sportswear manufacturer Goldwin are also among the new investors who joined in the recent second closing of €27 million.

The first part of the financing round, closed in summer 2023, included investments from existing investors including apparel companies adidas, Bestseller, H&M Group and Zalando.

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