Fashion recycling technology developer Tyton BioServices LLC, Danville, Va., reports it recently closed an $8 million Series A funding round, which it will use “to scale the solution and accelerate entry into the market.” Patagonia’s investment arm Tin Shed Ventures led the round. It was joined by Marubeni America, Card Sound Capital and Alante Capital. Tyton is the creator of proprietary technology solutions for recycling fashion manufacturing waste and end-of-life textiles so they can be put back into the economy.
The goal is to reduce the number of garments and amount of textile waste hitting the landfill or heading to an incinerator. “Tyton is solving fashion’s greatest business and environmental challenge by turning high-volume waste streams into valuable new products,” said Peter Majeranowski, Tyton CEO. “This $1.5 trillion a year industry is hungry for a recycling technology that works and delivers great economics — we can do that. Our investment partners recognize our ability to grow a successful business while also being responsible global citizens. We are delighted to have their support, expertise, and assistance to deploy our technology globally.
January/February 2020
