Kintra Fibers, a New York-based materials science company, raised $8M in Series A funding.
The round was eld by H&M Group with participation from BESTSELLER Invest FWD, Fashion for Good, New York Ventures, TRE Ventures, Tech Council Ventures, FAB Ventures and angel investors such as Craig Kallman, Jared Smith, Cami Téllez, Nina Faulhaber and Meg He, AmyAnn Cadwell, and Rana Argenio.
Led by Billy McCall, CEO, and Alissa Baier-Lentz, COO, Kintra Fibers is a materials science company that has developed a proprietary bio-based and biodegradable polyester serving the apparel industry. Its material is designed to address the environmental impact of traditional polyester from start to finish by using bio-based inputs and designing a biodegradable material from the start.
With 250 kg of resin produced to date on a pilot line, Kintra is expanding to a commercial manufacturing facility with the support of the Series A funding and the consortium of brand partners. The company’s goal for the year is to produce its first ton of resin. Integrating with one of these facilities will allow Kintra to satisfy near-term commercial demands, as the company begins with one ton and gradually scales up production.
In addition to enabling Kintra Fibers to expand its resin and yarn production capacities, the new funding will allow the company to support its frontier brand partners, which include Reformation, Inditex, H&M, and BESTSELLER, and among other global brands.
FinSMEs
13/04/2023