Funding boost for Ambercycle’s regenerated polyester technology
Materials science company Ambercycle has closed an oversubscribed $21.6 million Series A financing from H&M CO:LAB, Kirkbi, Temasek, Bestseller’s Invest FWD and Zalando.
The company has been testing the technology at a pilot plant in Los Angeles, and plans to scale up the production of Cycora. It has already been used by H&M for its 2021 Circular Design Story Collection.
Erik Karlsson, acting head of H&M CO:LAB, said: “We are delighted to support Ambercycle with this recent collection and are excited to continue being part of their successful journey. The H&M Group has an ambitious goal of making our business fully circular by 2030 and we truly believe in the team behind Ambercycle with their exceptional dedication to their mission. With this new funding round we look forward to partnering with them as they scale commercially.”
Photo: Actress Rosario Dawson visiting Ambercycle HQ in December 2021
