Unspun raises fresh funds - sportstextiles: Lea SportsTextiles

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Unspun raises fresh funds

05/08/2024
Unspun raises fresh funds
On-demand jeans maker and developer of an innovative 3D weaving technology it calls Vega, unspun has announced the successful completion of a series B funding round that brought in $32 million. Investors include deep tech fund DCVC (which has backed MycoWorks) along with continued support from Lowercarbon Capital, Decathlon, SOSV, E12 and Mitsui.

The Oakland, California-based company believes its 3D weaving loom can help the industry shift to an on-demand or low-inventory model that also has a lower carbon footprint. Vega can help reduce cutting waste by 3% compared to an industry average of 15%, it says. By reducing manufacturing steps, Vega can also offer a 53% reduction in emissions, 49% in energy demand and 39% in blue water consumption, it claims.

After having launched a pilot with US-based retailer Walmart, unspun intends to use the news funds to scale its operations by licensing its technology to manufacturing partners located in Europe.

“Overproduction has long been a taboo in fashion. It is now recognised by top-tier climate-funds as a key issue to urgently solve for the industry,” commented Walden Lam, CEO of unspun.

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