The textile industry is one of the largest sources of global waste, and a new startup is looking to tackle this problem in a novel way. Refiberd, an AI-powered platform that helps manufacturers and brands reduce and reuse waste, has just secured a $3.4 million seed round to continue its mission of reducing textile waste.
The round was led by Spero, with additional investments from Avanta Ventures, as well as strategic corporate investors Y Combinator and Plug and Play Ventures. Refiberd is on a mission to revolutionize the way the fashion industry produces and disposes of its products by using AI and data-driven insights to help manufacturers and brands reuse, recycle, and responsibly dispose of their textiles without sacrificing style.
Refiberd’s AI platform helps identify which materials are best suited for reuse, recycling, or disposal, be it stretchy stitch fabric or cotton wool blend. It also shows brands the environmental impact of each material on their decision to reuse, recycle, or dispose of a textile. This allows for more informed decisions about the future of each material, and supports sustainable production processes.
Refiberd is hoping to use its new investment to continue to build out its technology and expand its reach. The startup is already working with numerous brands, including youth-focused fashion label Classroom and performance sportswear brand Nightshift. Refiberd is supporting these companies to better understand the sustainability of their materials, while also providing them with data-driven insights to help reduce their environmental impact.
The $3.4M seed round boost for Refiberd is a sign that the fashion industry is taking significant steps to reduce textile waste. The company plans to use the funding to grow its product and team, and to expand to new markets, and to continue working with companies to reduce their waste.
Refiberd’s commitment to using AI and data-driven insights to help reduce waste among fashion brands is a model we should all strive to emulate. It showcases how the power of technology can be used to tackle an urgent global issue like textile waste in an effective way. Here’s to hoping that other fashion companies follow suit.