×
60 040
Fashion Jobs
SALLY BEAUTY CORPORATE
Outside Sales Representative -Cosmoprof
Permanent · New York
GAP INC.
Asset Protection Coordinator - la West
Permanent · Los Angeles
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Clinton Crossing Premium Outlet
Permanent · Clinton
GILLY HICKS STORES
Gilly Hicks - Manager in Training, Natick
Permanent · Natick
AESOP
Full Time Retail Consultant | Aesop nw 23rd
Permanent · Portland
CORPORATE
Senior Legal Counsel
Permanent · Irving
NEIMAN MARCUS
sr. Restaurant General Manager, $1,000 Sign-on Bonus - Bal Harbour
Permanent · Bal Harbour
NEIMAN MARCUS
Group Sales Manager - Palo Alto
Permanent · Palo Alto
TALENT
District Manager, Madewell
Permanent · Atlanta
COTY
Commercial Finance Analyst, fp&a
Permanent · Miami
JCPENNEY CAREERS 2018
Merchandise Planner - Women's Apparel
Permanent · Plano
MARC JACOB'S
Sales Supervisor
Permanent · Los Angeles
MARC JACOB'S
Sales Supervisor
Permanent · Chandler
ESTEE LAUDER
Director, Global Marketing Skincare
Permanent · New York
NORDSTROM
Asset Protection Agent - Canyon Springs Rack (Riverside, ca)
Permanent · Riverside
PUMA
Junior Manager, Marketing - Ecomm (CRM/Sms)
Permanent · Somerville
CENTRIC BRANDS
Manager, Sales Operations
Permanent · New York
LULULEMON
Assistant Manager, Operations | Southport, Chicago
Permanent · Chicago
DISTRIBUTION CENTERS
Studio Coordinator
Permanent · Dallas
OLD NAVY
District Manager - Kansas City
Permanent · San Francisco
OLD NAVY
District Manager - Kansas City
Permanent · Kansas City
OLD NAVY
General Manager - Shoppes at Gilbert
Permanent · Gilbert
Published
Jun 30, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

AlgiKnit raises $13 million in funding round

Published
Jun 30, 2022

U.S. eco-textile firm AlgiKnit announced on Wednesday it has raised $13 million in a Series A funding, which will see the kelp yarn maker embark on a new phase of growth moving forward.


AgiKnit



The Morrisville, North Carolina-based company said the funding round was lead by Collaborative Fund, with additional backing from H&M Co:Lab, the investment arm of H&M Group, as well as Starlight Ventures, and Third Nature Ventures. Previous investors Horizons Ventures and SOSV also contributed to the round.

​Developing materials from a seaweed called kelp, one of the most renewable and regenerative organisms on the plane, AlgiKnit uses the ocean raw material to create yarns and fibers for use in a diverse set of industries including fashion, interiors and furnishings, and automotive.

The latest funding round takes AlgiKnit's total investment sum to to $17.9 million.

​"The textile industry is responsible for as much as 8% of the world's CO2 emissions – in addition to being massively polluting and water-intensive. We're thrilled to be leading AlgiKnit's Series A round, and to be investing in a technology that is pushing the world towards a more sustainable future," said Sophie Bakalar, partner at Collaborative Fund.

The fundraising announcement coincides with the opening of AlgiKnit's new manufacturing facility in the Research Triangle area in North Carolina. Opening in June, AlgiKnit said the new facility highlights the company's commitment to sustainability beyond its products, with the 15,000 square-foot space fitted out with upcycled materials and second-hand furniture.

​"With the opening of our new facility in the Research Triangle area of North Carolina, we are focused on expanding our production capabilities, partnerships, and team to address global demand more quickly," said AlgiKnit co-founder and CEO, Tessa Callaghan.

"This is a huge next step in bringing this technology to scale, and creating positive, tangible change for the planet. We are so excited to partner with new and existing investors who share our vision for transforming the fashion ecosystem."

Copyright © 2022 FashionNetwork.com All rights reserved.