Los Angeles-based materials research company Ambercycle Inc. has announced the closing of a US$21.6 million funding round, with investors including H&M Co:Lab, Kirkbi, Temasek, Bestseller's Invest FWD and Zalando. Ambercycle, which was founded in 2015 by Shay Sethi and Moby Ahmed, will use the money to further develop infrastructure and materials for the circular economy in the fashion industry.
Among the processes Ambercycle has designed so far is so-called Ambercycling. The process separates and purifies textile waste at the molecular level to produce regenerated materials that brands and designers should be able to turn into new garments. This resource-saving approach is also expected to reduce the amount of materials that end up in landfills.
On the materials side, the company has unveiled Cycora: this reuses old garments by regenerating textile waste into new fabrics. Cycora is intended to act as a substitute for conventional polyester. With the funds raised, Ambercycle now has concrete plans to expand the production of Cycora. The material has already been used in collaborations with Los Angeles streetwear brands like Justin Mensinger. Recently, it was also used in H&M's Circular Design Story Collection.