M\u00fcns\u00adter \u2014 German tech\u00adno\u00adlogy start-up eeden, which has deve\u00adlo\u00adped a breakth\u00adrough textile recy\u00adcling tech\u00adno\u00adlogy, announ\u00adces the closing of its \u20ac18 million Series A finan\u00adcing round. The round was led by Forbion, a leading venture capi\u00adtal firm based in the Nether\u00adlands, through its BioE\u00adco\u00adnomy Fund. Other new inves\u00adtors include Henkel Ventures, the stra\u00adte\u00adgic venture capi\u00adtal fund of Henkel, which has exten\u00adsive exper\u00adtise in surface and coating tech\u00adno\u00adlo\u00adgies through its consu\u00admer and indus\u00adtrial busi\u00adness, and NRW.Venture, the venture fund of NRW.BANK, the deve\u00adlo\u00adp\u00adment bank of the state of North Rhine-Westphalia. <\/p>\n
All exis\u00adting inves\u00adtors have reinves\u00adted in the round, inclu\u00adding venture capi\u00adta\u00adlists Tech\u00adVi\u00adsion Fund (TVF), High-Tech Gr\u00fcn\u00adder\u00adfonds (HTGF) and D11Z. Ventures \u2014 the early-stage invest\u00adment arm of Dieter Schwar\u00adz\u2019s family office. The finan\u00adcing will enable eeden to build its demons\u00adtra\u00adtion plant in M\u00fcns\u00adter, opti\u00admize proces\u00adsing on a large scale and estab\u00adlish commer\u00adcial projects with key play\u00aders in the textile industry. <\/p>\n
A big step towards a circu\u00adlar economy<\/strong><\/p>\n Ongo\u00ading chal\u00adlenges such as rising costs, resource scar\u00adcity, mate\u00adrial vola\u00adti\u00adlity and growing regu\u00adla\u00adtory hurd\u00adles conti\u00adnue to plague the textile indus\u00adtry. To remain compe\u00adti\u00adtive, brands and manu\u00adfac\u00adtu\u00adr\u00aders are incre\u00adasingly looking for textile mate\u00adri\u00adals that offer high perfor\u00admance, scala\u00adbi\u00adlity and circu\u00adla\u00adrity at the same price. eeden addres\u00adses this need with its breakth\u00adrough chemi\u00adcal recy\u00adcling tech\u00adno\u00adlogy that reco\u00advers pure cellu\u00adlose and PET buil\u00adding blocks (mono\u00admers) from cotton-poly\u00ades\u00adter blends. Its products can be used to produce virgin lyocell, viscose and poly\u00ades\u00adter fibers, offe\u00adring a resource-effi\u00adci\u00adent alter\u00adna\u00adtive to conven\u00adtio\u00adnal fibers and opening up new circu\u00adlar value chains. <\/p>\n Alex Hoff\u00admann, Gene\u00adral Part\u00adner at Forbion <\/strong>(Photo: Forbion): \u201ceeden has deve\u00adlo\u00adped a ground-brea\u00adking solu\u00adtion that can make large-scale textile recy\u00adcling not only tech\u00adno\u00adlo\u00adgi\u00adcally feasi\u00adble, but also commer\u00adci\u00adally viable in the near future. We see enorm\u00adous poten\u00adtial in their approach and are deligh\u00adted to support the team in brin\u00adging this ground-brea\u00adking tech\u00adno\u00adlogy to indus\u00adtrial scale.\u201d<\/p>\n \u201cWith its inno\u00adva\u00adtive tech\u00adno\u00adlogy, eeden not only makes a valuable contri\u00adbu\u00adtion to conser\u00adving resour\u00adces in the textile indus\u00adtry, but also offers a commer\u00adci\u00adally attrac\u00adtive busi\u00adness model in the long term,\u201d says Florian Stin\u00adauer, Invest\u00adment Mana\u00adger at NRW.Venture,<\/strong> who will also repre\u00adsent the fund on the company\u2019s advi\u00adsory board. \u201cWith this invest\u00adment, we are further expan\u00adding our exis\u00adting port\u00adfo\u00adlio in the field of sustainable future technologies.\u201d <\/p>\n Stef\u00adfen Gerlach, CEO & Co-Foun\u00adder of eeden<\/strong>: \u201cOver the past years, we have deve\u00adlo\u00adped a proven solu\u00adtion that has the poten\u00adtial to meet the indus\u00adtry\u2019s long-term need for high-perfor\u00admance, cost-effi\u00adci\u00adent and circu\u00adlar mate\u00adri\u00adals. We are proud that our new and exis\u00adting inves\u00adtors believe in our approach and share our vision. With their support, we are ready to scale our tech\u00adno\u00adlogy and turn textile waste into mate\u00adri\u00adals that the indus\u00adtry really needs.\u201d<\/p>\n eeden has deve\u00adlo\u00adped a unique chemi\u00adcal recy\u00adcling process for mixed fibers that allows them to be reco\u00advered from old texti\u00adles and used as raw mate\u00adri\u00adals for new textile fibers. With its tech\u00adno\u00adlogy, the start-up closes the textile cycle and redu\u00adces depen\u00addence on resource-inten\u00adsive raw mate\u00adri\u00adals in this indus\u00adtry. The capi\u00adtal from the current finan\u00adcing round will enable the cons\u00adtruc\u00adtion of a demons\u00adtra\u00adtion plant in M\u00fcns\u00adter, which repres\u00adents the next step on the way to indus\u00adtrial scaling of the recy\u00adcling process. In addi\u00adtion, commer\u00adcial projects are to be reali\u00adzed with key play\u00aders in the textile industry. <\/p>\n With invest\u00adments such as this one, NRW.BANK speci\u00adfi\u00adcally streng\u00adthens young compa\u00adnies that contri\u00adbute to the sustainable trans\u00adfor\u00adma\u00adtion of the economy and society with their inno\u00adva\u00adtive solutions.<\/p>\n About eeden About Forbion About Henkel Ventures About TVF About NRW.Venture <\/p>\n","protected":false},"excerpt":{"rendered":" M\u00fcns\u00adter \u2014 German tech\u00adno\u00adlogy start-up eeden, which has deve\u00adlo\u00adped a breakth\u00adrough textile recy\u00adcling tech\u00adno\u00adlogy, announ\u00adces the closing of its \u20ac18 million Series A finan\u00adcing round. The round was led by Forbion, a leading venture capi\u00adtal firm based in the Nether\u00adlands, through its BioE\u00adco\u00adnomy Fund. Other new inves\u00adtors include Henkel Ventures, the stra\u00adte\u00adgic venture capi\u00adtal fund [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":55999,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[1366],"tags":[],"class_list":["post-56001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en"],"yoast_head":"\n
\n<\/strong>
\n eeden is a tech\u00adno\u00adlogy company based in M\u00fcns\u00adter, Germany, pionee\u00adring the chemi\u00adcal recy\u00adcling of cotton-poly\u00ades\u00adter texti\u00adles. Foun\u00added in 2019, eeden has deve\u00adlo\u00adped a breakth\u00adrough tech\u00adno\u00adlogy that effi\u00adci\u00adently sepa\u00adra\u00adtes and reco\u00advers cellu\u00adlose and PET mono\u00admers. These are proces\u00adsed by fiber manu\u00adfac\u00adtu\u00adr\u00aders into new lyocell, viscose and poly\u00ades\u00adter fibers, enab\u00adling the tran\u00adsi\u00adtion to a fully circu\u00adlar textile indus\u00adtry. https:\/\/eeden.world<\/p>\n
\n<\/strong>
\n Forbion is a leading global venture capi\u00adtal firm with exten\u00adsive exper\u00adtise in Europe and offices in Naar\u00adden (Nether\u00adlands), Munich (Germany) and Boston (USA). Forbion invests in inno\u00adva\u00adtive biotech compa\u00adnies and mana\u00adges appro\u00adxi\u00adm\u00adately \u20ac 5 billion in various fund stra\u00adte\u00adgies cove\u00adring all phases of (bio)pharmaceutical drug deve\u00adlo\u00adp\u00adment. In addi\u00adtion, Forbion lever\u00ada\u00adges its biotech exper\u00adtise beyond human health to address the chal\u00adlenges of \u201cplane\u00adtary health\u201d with its BioE\u00adco\u00adnomy fund stra\u00adtegy, which invests in compa\u00adnies deve\u00adlo\u00adping sustainable solu\u00adti\u00adons in the areas of food, agri\u00adcul\u00adture, mate\u00adri\u00adals and envi\u00adron\u00admen\u00adtal tech\u00adno\u00adlo\u00adgies. Forbi\u00ado\u00adn\u2019s team of over 30 invest\u00adment profes\u00adsio\u00adnals has an impres\u00adsive track record of 128 invest\u00adments across 11 funds since the late 1990s. Forbi\u00ado\u00adn\u2019s track record in sourcing, buil\u00adding and mana\u00adging life science compa\u00adnies has led to nume\u00adrous appro\u00adved breakth\u00adrough thera\u00adpies and valuable exits. The company is a signa\u00adtory to the United Nati\u00adons Prin\u00adci\u00adples for Respon\u00adsi\u00adble Invest\u00adment. Forbion opera\u00adtes a joint venture with BGV, the mana\u00adger of seed and early-stage funds with a parti\u00adcu\u00adlar focus on the Bene\u00adlux and Germany. <\/p>\n
\n<\/strong>
\n Henkel Ventures is the corpo\u00adrate venture capi\u00adtal arm of Henkel and pursues a balan\u00adced approach with stra\u00adte\u00adgic focus and solid finan\u00adcial returns. Henkel Ventures part\u00adners with start-ups for joint inno\u00adva\u00adtion and invests in early stage, late seed to B rounds in the areas of consu\u00admer products (CPG), adhe\u00adsi\u00adves tech\u00adno\u00adlo\u00adgies, sustaina\u00adbi\u00adlity and digi\u00adtal commerce. You can find more infor\u00adma\u00adtion at Henkel Ventures <\/p>\n
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\n Tech\u00adVi\u00adsion Fund (TVF) is a leading early-stage VC fund based in Aachen, Germany, focu\u00adsing on tech\u00adno\u00adlogy start-ups in the pre-seed to Series A stage. TVF focu\u00adses on outstan\u00adding teams from the Rhine\u00adland region, inclu\u00adding the neigh\u00adbor\u00ading Nether\u00adlands and Belgium. TVF\u2019s manage\u00adment has expe\u00adri\u00adence from four gene\u00adra\u00adti\u00adons of funds and curr\u00adently mana\u00adges assets of over 100 million euros. The funds are backed by strong inves\u00adtors such as NRW.BANK, eight savings banks from western NRW and more than 15 successful entrepreneurs.
\nTVF supports start-up teams with its network and know-how and paves the way for them to become the next inter\u00adna\u00adtio\u00adnal indus\u00adtry leader. Through the network of the S\u2011UBG Group, TVF offers unique access to over 150 successful compa\u00adnies in various sectors and estab\u00adlishes cont\u00adacts between start-ups and their first custo\u00admers, part\u00adners and advi\u00adsors. www.tvf.vc<\/p>\n
\n<\/strong>
\n NRW.Venture is NRW.BANK\u2019s venture capi\u00adtal fund. It is the deve\u00adlo\u00adp\u00adment bank for North Rhine-West\u00adpha\u00adlia\u2019s response to the shortage of finan\u00adcing for young, inno\u00adva\u00adtive, often tech\u00adno\u00adlogy-orien\u00adted compa\u00adnies that are often unable to obtain finan\u00adcing through loans. Their main capi\u00adtal consists of a new market idea, which makes it diffi\u00adcult to assess their chan\u00adces of success. NRW.Venture invests up to EUR 15 million in such start-ups over seve\u00adral rounds \u2014 typi\u00adcally from the second finan\u00adcing round onwards \u2014 toge\u00adther with private-sector inves\u00adtors. NRW.BANK takes mino\u00adrity stakes over a period of three to seven years. Howe\u00adver, the commit\u00adment does not only comprise capi\u00adtal \u2014 an expe\u00adri\u00aden\u00adced team is the key to joint success. NRW.Venture\u2019s invest\u00adment profes\u00adsio\u00adnals with many years of venture capi\u00adtal expe\u00adri\u00adence, and often also tech\u00adno\u00adlogy and start-up expe\u00adri\u00adence, use their know-how and network to ensure that start-ups have the best chan\u00adces of success. www.nrwbank.de<\/p>\n