Finnish Circular fashion and textile technology group Infinited Fiber Company has secured investments totaling €30 million in its latest financing round completed on June 30. The round also brought the company new investors, including Adidas, Invest FWD A/S, which is Bestseller’s investment arm for sustainable fashion, and investment company Security Trading Oy. Among the existing investors contributing to this round of financing were fashion retailer H&M Group, who was the lead investor, investment company Nidoco AB, and viscose producer Sateri.

This securement of new funding follows Infinited Fiber Company’s April announcement of plans to build a flagship factory in Finland to produce its regenerated textile fiber Infinna. According to Infinited, the factory, which will use household textile waste as raw material, is expected to be operational in 2024 and to have an annual production capacity of 30,000 metric tonne.

These new investments will enable the company to proceed with the pre-engineering, environmental permits, and the recruitment of the skilled professionals needed to take our flagship project forward. It can also boost production at its pilot facilities so that the company can better serve our existing customers and grow its customer-base.