Categories: Other

AlgiKnit Bags raised US$2.4 million to accelerate Algae Bio-Yarns production

This month, AlgiKnit raised US$2.4 million in a new round of funding led by Horizons Ventures, global sustainable fashion platform Fashion for Good, and renowned venture capital and accelerator SOSV. The new funds will help the New York-based biomaterials startup accelerate its development and, finally, bring its products to market, according to the company.

Since its inception in 2017, the company has produced long-lasting and biodegradable yarns and fibres made from kelp, a form of algae that is one of the most green species on the planet and helps to combat ocean acidification by absorbing carbon dioxide.

AlgiKnit believes that its fibres will substitute widely used fabrics such as polyester and nylon, which are manufactured from petroleum-based plastics and contribute to both the environment and waste crises. The fashion industry as a whole emits 10% of global greenhouse gas emissions, more than all global aviation and marine shipping combined, due to the use of non-sustainable and non-biodegradable materials.

Recent Posts

LYCRA showcases renewable fiber innovations

The LYCRA Company is presenting a range of new fibre technologies, focusing on performance, comfort and the use of recycled…

16 hours ago

DITF explores converting wind turbine blades into textile fibers

The German Institutes of Textile and Fiber Research Denkendorf is exploring how retired wind turbine blades could be turned into…

16 hours ago

Corn, beeswax-based textile treatment to offer PFAS finishes alternative

University of Texas has developed a textile treatment made from corn-derived protein and beeswax to help fabrics resist water and…

16 hours ago

Researchers develop selective recycling process for polyester blends

Researchers have developed a recycling process to break down polyester in blended textiles while preserving cotton and spandex present in…

2 days ago

Aalto researchers remove dye from cotton for recycling

Researchers have developed a two-step process that can remove up to 99.3% of colour from reactive-dyed cotton while keeping most…

2 days ago

Indorama Ventures partners to launch biodegradable wash mitt

Schülke, Nitto, Indorama Ventures and Polymateria have launched a new biodegradable disposable wash mitt in Germany, Switzerland, Austria and Spain.

2 days ago