Tyton BioSciences, a Danville, VA.-based developer of recycling technology for the fashion industry, recently closed its $8m Series A funding round.
Tin Shed Ventures, the investment arm of outdoor apparel brand Patagonia, led the round and was joined by Marubeni America, Card Sound Capital, and Alante Capital.
The funding will be used to scale the solution and accelerate entry into the market.
Led by Peter Majeranowski, CEO, Tyton develops proprietary technology solutions to recycle fashion manufacturing waste and end-of-life textiles back into the economy. The company’s solution is able to recover raw materials, including cotton pulp and polyester, from discarded clothing and textile waste to create new fabrics that today are otherwise made from natural resources like oil, trees and cotton.
As part of its growth strategy, Tyton expanded its leadership team to include Dr. Julie Willoughby (PhD Chemical Engineering) as Chief Scientific Officer. From her previous roles at Nike, MeadWestvaco, and Dow Corning, Willoughby brings a wealth of expertise in multi-disciplinary teams to scale technologies.
FinSMEs
10/01/2020