What is Evrnu?
Evrnu has developed groundbreaking NuCycl technologies that break down textile waste and reconstitute it into pristine new fibers. These advanced materials offer superior performance characteristics, making them ideal for creating premium textile products. By providing environment-sparing alternatives for high-demand fibers, Evrnu is a key enabler of the circular economy, collaborating with leading global brands and retailers to meet both product performance and sustainability goals. The company's innovative approach directly tackles the global textile waste crisis.
How much funding has Evrnu raised?
Evrnu has raised a total of $24.8M across 4 funding rounds:
Series A
$9.1M
Debt
$350K
Debt
$359K
Series B
$15M
Series A (2019): $9.1M with participation from Radicle Impact, Giant Leap Fund, and The Mills Fabrica Fund
Debt (2020): $350K led by PPP
Debt (2021): $359K supported by PPP
Series B (2021): $15M featuring FullCycle, Hansae Co., PDS Multinational Fashions, and Bestseller
Key Investors in Evrnu
Radicle Impact
Radicle Impact is an impact venture fund dedicated to promoting social justice, environmental resilience, and economic sustainability, investing in early-stage companies with the potential for systems change in sectors such as climate solutions.
Giant Leap Fund
Giant Leap Fund is a venture capital firm that invests in companies driving positive environmental and social impact, focusing on innovative solutions for a sustainable future.
FullCycle
FullCycle is a growth equity fund focused on accelerating systemic solutions to the climate crisis by commercializing proven technology solutions and investing in climate-critical infrastructure projects.
What's next for Evrnu?
With its recent major strategic investment, Evrnu is poised for significant expansion and technological advancement. This capital injection, part of its $24.8M in total financing, will likely fuel further research and development into its polymer regeneration processes, scale up production capabilities, and deepen partnerships with major fashion brands. The company's focus on creating a truly circular economy for textiles positions it as a critical player in the industry's transition towards greater sustainability. Future growth will likely involve expanding its market reach and further integrating its NuCycl technology into global supply chains.
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