Re-Fresh Global, a Berlin-based startup in the sustainable textile upcycling business, has announced the successful completion of a pre-seed investment round of €1.1M.
This money will be used to help the startup further develop its vision of a circular economy in the textile sector.
To further optimize its SMART-UP URBAN MICROFACTORY process and greatly expand its capacity to handle textile waste, the Sustainable Textile Upcycling Business Re-Fresh Global intends to use the additional funding to step up its research and development efforts. The business will also step up its marketing and sales efforts to reach a wider audience with its special solutions and form new strategic alliances.
The timing couldn’t be better for its founders. “The implementation of the IBA EU legislation starting on January 1, 2025, will signal a turning point in the management of textile waste. Re-Fresh Global, however, is adamant that we shouldn’t put off taking action until the future. It makes me very happy that so many renowned investors are backing our initiative to turn textile waste into useful resources. Together, we can overcome the obstacles and influence the business for the better, says Victoria Kanar, co-founder of Re-Fresh Global.
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Re-Fresh Global is a startup advancing a sustainable, end-to-end solution in the industrial sector through an original approach to upcycling. Founded in 2021 by Viktoria Kanar and Revital Nadiv. By using a novel technology, the company revolutionizes the textile industry by turning waste textiles into high-value new raw materials (nanocellulose, bioethanol, and multifunctional fibers). Even SMEs can employ this ground-breaking idea in a way that covers their costs.
Numerous distinguished investors, including well-known businesses and figures from the global venture capital community and the sustainability industry, participated in the investment round. Key investments came from Serpentine.vc, a Swiss venture asset management, and Earlybird, a pan-European VC investor specialized in European tech pioneers, through the startup’s participation in the Vision Lab incubator program and fund.
Frank Dupuis of DUPUIS INVESTMENT, a seasoned real estate investor based in Germany, and Michael Ulbrich, a partner at Nevis and Accenture who is a global sustainability leader for chemicals and actively promotes sustainable investments, are two additional investors who took part in the pre-seed financing.
Ina Schlie, the founder of Encourage Ventures and a champion of sustainable innovation in Germany, Ute Zahn, a coach and angel investor with a passion for green startups, and IndieBio from SOSV VC, a San Francisco-based early-stage investor with a focus on biotechnology and sustainable solutions, are also taking part in the funding round.
A major accomplishment for Re-Fresh Global, the pre-seed financing round’s success validates renowned investors’ confidence and support in the business and its ambitious goals.
