French startup company EverDye, which claimed to have developed textile dyeing processes that emit fewer carbon emissions than before, said on Tuesday that it had raised 15 million euros ($18 million) in a new funding round.
Everdye
EverDye’s fund-raising round comes as the fashion and textiles industry aims to cut down on its CO2 emissions and find more environment-friendly ways to produce clothes.
The fashion sector counts for around 8% of global greenhouse gas emissions and can also contribute to water pollution.
The fundraising for EverDye, which was founded in 2021 and is headquartered near Paris, was co-led by financial firms Credit Mutuel Innovation and Daphni.
The company says it uses low temperatures and existing machinery for the dyeing process, which reduces the amount of water needed and cuts down on the reliance on heavy industrial machinery.
“Our solution not only promotes sustainability but also significantly reduces operational costs for manufacturers. In an era where energy costs are a critical survival factor, EverDye”s innovation is a game-changer,” EverDye CEO Philippe Berlan said.
