Green Theme Technologies (GTT), an American pioneer in developing sustainable textile and apparel solutions, has announced the first closure of a $3.5 million Series B funding round. GTT will use the funds generated to expand its sustainable and performance-driven platform innovations, hire additional staff, and assist licensing partners.
According to a press statement from the firm, notable investors in the Series B round include Phoenix Venture Partners and Safer Made, both of whom invest in sustainably oriented technologies, platforms, and organizations taking an active part in creating a green future for the planet.
Jordan Clancy, CFO with GTT said they’re happy with their fundraising results and will use the series B investment to continue developing and commercializing their platform technologies, which include a durable water repellent (DWR) finish and their water-free dye (WFD) solution. They plan to quadruple their personnel in New Mexico over the next six months, growing their team to support commercialization, licensees, and revenue growth.
Green Theme's business strategy aims to alter the fact that the textile and apparel sectors are the world's second-largest water pollutants. GTT and its licensing partners are directly lowering the amount of water pollution in the globe by replacing old water-based wet finishing methods presently used to apply water repellents, dyes, and more with the clean, efficient, and water-free EMPEL process.
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