A seed round to fast-track the textile industry to circularity09.12.2022
OceanSafe offering a proprietary sustainability solution for circular, non-toxic and biodegradable textiles has closed a seed funding round to boost its growth and R&D advancement.
This round of financing will enable OceanSafe to scale up and further advance its technology development on circular materials, particularly on novel synthetic textile fibers and yarns. Additionally, the Company will allocate funds towards its organizational growth, presence on international textile markets and the advancement of recycling solutions.
The seed round has been led by Rütters GmbH, a German family investment office rooted in the textile industry, and exelixis capital AG, the Swiss circular economy venture capital and private equity investment firm. Various angel and impact investors from around the globe joined the round.
Offering two solutions for a circular textile industry
Since its market launch in 2020, OceanSafe has evolved into a technology licensing company, offering two distinct solutions for textile brands to reduce their environmental impact. First, OceanSafe’s material science business covers revolutionary biodegradable and toxin-free synthetic fibers and yarns, marketed under the trade name naNea. Second, OceanSafe’s holistic circular product solution. The Company helps brands develop and manufacture circular finished products, e.g., garments or home textiles, and provides end-of-life solutions.
Manuel Schweizer, Founder and CEO of OceanSafe, commented on today's news, "Our goal at OceanSafe is to help textile brands and manufacturers with innovative technology on their path towards circularity. The support of our investors will allow us to progress the development work on our next generations of fibers and yarns as well as to scale up our fiber and yarn business and grow the organization.”
“We're thrilled to back OceanSafe’s expansion and its mission to fast-track the textile industry to circularity," said Knut Rütters, CEO of Rütters. "OceanSafe has the team and expertise to perform at the highest level. OceanSafe will undoubtedly lead the textile industry’s sustainability efforts towards a circular future. Our company is proud to be on board as investors and supporters of this highly innovative technology. In addition, we are happy to be able to establish a global distribution partnership with OceanSafe for its groundbreaking fibers and yarns.”
“OceanSafe has the potential to disrupt the entire textile industry,” states Dr. Günther Dobrauz, Co-founding Investor of exelixis capital. “We strongly believe in the technology and in its vast potential to create positive environmental impact,” exelixis capital Co-founding Investors Michael Dieckell and Sebastian von Döring add.
Picture: OceanSafe naNea