Byborre raises 16.9 million euros in Series B funding
Dutch textile innovation company Byborre has raised 16.9 million euros (18.3 million US dollars) in a Series B funding round to accelerate its international growth.
The funding round was led by Invest-NL and VP Capital, along with existing investors Shift Invest and Amsterdams Klimaat en Energiefonds (AKEF), and a group of angel investors including seasoned industry experts and entrepreneurs Charlie MacGregor (The Social Hub), Henk Jan Beltman (Tony Chocolonely), Patrick Munster (Scotch & Soda, Marie-Stella-Maris, Salle Privée), Bram de Zwart and Brian Garret (Hubs), Joris Pol (MediaMonks) and Geert-Jan Smits (Flinders).
In a statement, Byborre, which last year stepped away from its in-house label Editions, said it would use the investment to accelerate the company’s international growth in key markets such as the US, the Nordics and Italy and to further establish the position of Byborre as the leading platform for sustainable textiles.
In addition, it plans to invest in its platform development, design tool Byborre Create, the ready-to-order library Byborre Textiles, and expand its network of industry partners.
Dutch textile innovation company Byborre plots international growth
Byborre co-founder and chief creative officer Borre Akkersdijk said: “We challenge the old, while delivering solutions for the new. The demand for textiles keeps growing, and so the need for a textile design and development solution that matches commercial feasibility, positive impact and creativity is ever more pressing. That’s why we’re here to stay.”
Rinke Zonneveld, chief executive at Invest-NL, added: “Invest-NL is thrilled about its first investment in the textiles industry, one of the most polluting industries of today’s global economy. Byborre’s ground-breaking platform technology and services enable a transparent ecosystem and hold tremendous potential to rethink both design and production of textiles.
“By enabling this frontrunner to scale up quickly, we believe it can play an important role in speeding up the transition towards a carbon-neutral and circular economy.”