Ravel closes $8.2 million seed round
Textile recycling company Ravel has successfully closed a seed funding round of $8.2 million providing the Seattle-based company with fresh capital on its journey to commercial readiness. The Purification Recycling technology it has developed is designed to recycle blended textiles, offering more flexibility in the feedstock it can take in, including poly-elastane fabrics. The company cites data from Textile Exchange that estimates that about 85% of textiles are made up of the top four fibre categories, and commonly blended. The recycling process is said to be non-destructive and low energy, while delivering drop-in ready recycled fibres. The company currently runs a pilot plant in Seattle.
“There are countless advantages to blended fibre materials for clothing, blends are what make clothing durable, functional and affordable. But blends are not recyclable with existing infrastructure. That’s where Ravel comes in. We’re solving a huge problem that other technologies fail to address,” commented Ravel CEO Zahlen Titcomb.
Investors in the seed round include One Small Planet, AP Ventures, Overlay Capital and Lichen Ventures. Prior investors At One Ventures, Collateral Good and Betterway Ventures also contributed.
Photo shows shredded poly-elastane waste ready for Ravel purification
