Tech Company Financing Transactions
AlgiKnit Funding Round
AlgiKnit, based in New York, secured $13 million in funding from Collaborative Fund, H&M Group and Horizons Ventures.
Transaction Overview
Company Name
Announced On
6/29/2022
Transaction Type
Venture Equity
Amount
$13,000,000
Round
Series A
Investors
Proceeds Purpose
The company intends to use the funds to scale production to meet global demand for nature-driven solutions against climate change.
Company Information
Company Status
Private & Independent
Industry
Advanced Materials
Mailing Address
140 58th Street, Building A Suite 8J, Brooklyn Army Terminal
New York, NY 11220
USA
New York, NY 11220
USA
Phone
Undisclosed
Website
Email Address
Overview
AlgiKnit is creating eco-conscious, renewable yarns for the circular economy. We're developing renewable yarns from kelp, one of the most regenerative organisms on the planet. Our material is built for everyone: a functional and accessible resource without environmental harm. We're envisioning a future where the textile industry operates in a closed-loop product lifecycle, utilizing materials with a significantly lower footprint than conventional textiles.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Tessa Callaghan
Chief Operating Officer
Aleks Gosiewski
Chief Technical Officer
Aaron Nesser
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