Sustainable fabric technology developer Natural Fiber Welding secured $13m in a round led by strategic partner Ralph Lauren.
Fashion and fragrance producer Ralph Lauren has led a $13m funding round for US-based sustainable textile provider Natural Fibre Welding (NFW), Crunchbase News reported yesterday.
Angel investment network Central Illinois Angels and venture capital firm Prairie Crest Capital also took part in the round, as did undisclosed other investors.
A spokeswoman said the company, which had initially received $10m in research funding from the US Department of Defense, has now raised $25m in total.
Founded in 2015, NFW has developed material science processes to produce high-performance fabrics from natural fibres like recycled cotton or plant-based materials, lowering the need for fossil fuels in the textile manufacturing process.
The funding will be spent on NFW’s factory in Peoria, Illinois. Ralph Lauren will help the company expand its production process as it looks to make sustainable clothing at scale.
David Lauren, Ralph Lauren’s vice-chairman and chief innovation officer, said: “Today, sustainability is an area where this is especially important, and investing with partners to scale innovative solutions is a key part of our sustainability strategy.
“We are excited to support the work of NFW, a pioneer in this field. Their technology has the power to not only advance our work at Ralph Lauren, but effect positive change across the entire industry.”
