AlgiKnit has opened a manufacturing facility in the Research Triangle area in North Carolina after closing a $13 million Series A funding round led by Collaborative Fund.

The company is developing yarns from the seaweed, kelp – one of the most renewable and regenerative organisms on the planet.

The company sought to minimise the construction footprint of its new plant by upfitting a 15,000 square feet expansion with upcycled materials and second-hand furniture.

“The building process was predicated on creating a vibrant, innovative working environment without compromising our commitment to the planet,” said COO Aleksandra Gosiewski, “From utilising an existing space that met our specifications to reusing and repurposing as much as we possibly could, sustainability was always top of mind.”

The closing of the funding round brings AlgiKnit’s total amount raised to $17.9 million.

“With the opening of our new facility,we are focused on expanding our team and production capabilities and new partnerships to address global demand more quickly,” said AlgiKnit CEO Tessa Callaghan. “This is a huge next step in bringing this technology to scale and creating positive, tangible change.”

“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,” said Sophie Bakalar, a partner at Collaborative Fund. “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.”

www.algiknit.com