April 17, 2024
Corporates

Infinited Fiber Company Secures €40 Million In Development Financing Round

Infinited Fiber Company concludes a €40 million development financing round, drawing significant investments from newcomers Inditex, TTY Management, Youngone, and Goldwin, alongside existing backers. New investors include Inditex Group, TTY Management B.V., Youngone (YOH CVC Fund 1 Limited Partnership), and Goldwin (GOLDWIN Play Earth Fund Investment Limited Partnership), who contributed to the recent €27 million second closing.

The initial part of the round, concluded in summer 2023, saw continued support from existing investors like H&M Group, Adidas, BESTSELLER, Zalando, VTT Ventures, Security Trading, and Nidoco AB. Post-financing, Inditex, TTY Management, and H&M Group emerge as the primary shareholders.

Petri Alava, Co-Founder, and CEO of Infinited Fiber Company expresses enthusiasm for the impactful new investors, emphasizing the investment’s importance in scaling up Infinna technology. The move underscores industry confidence in their technology’s role in textile sector circularity.

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