Los Angeles-based materials science company Ambercycle has closed an oversubscribed $21.6 million financing round with backers including H&M, Bestseller and Zalando. The company raised a total of $27 million to develop its infrastructure and materials for circularity within the fashion industry.

Ambercycle was founded in 2015 by Shay Sethi and Moby Ahmed with the goal of building circularity into the fashion industry. Its Ambercycling process separates and purifies post-consumer textile waste at the molecular level to produce regenerated materials that brands and designers can craft into new garments. This simultaneously reduces the materials going into landfills as well as the need to extract finite resources from the planet.

The transition to circularity in fashion is inevitable

The company’s first solution, cycora, makes use of old garments by regenerating end-of-life textile waste into new fabrics. Cycora can serve as a direct replacement to polyester, and emulates the functional characteristics of conventional fabrics while allowing apparel brands and designers to produce high quality garments with circularity in mind.

“The transition to circularity in fashion is inevitable” said Shay Sethi. “We are building an ecosystem in which materials can exist in harmony with humans and the environment. Our molecular regeneration process enables a clear vision for circularity, in which fashion can flow in and out of our lives. Not only will this improve the sustainability performance of the items in our closets, but it builds a new way for us to interact with our materials.”

Over the past few years, the company has proven the technology by building a pilot plant in downtown Los Angeles. With the funds raised the company plans to scale up production of cycora. The material has already been used in successful collaborations with Los Angeles streetwear brands like Justin Mensinger, select luxury brands, and most recently by industry giant H&M for its 2021 Circular Design Story Collection.

“We are delighted to support Ambercycle with this recent collection and excited to continue being part of their successful journey,” said Erik Karlsson, acting head of H&M CO:LAB. “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 this new funding round we look forward to partnering with them as they scale commercially.”

www.ambercycle.com