Closed Loop Partners Funds Hyran to Mitigate Waste in Fashion Supply Chain
Circular economy-focused investment firm Closed Loop Partners is funding a new technology that aims to reduce waste in the apparel supply chain.
An artificial intelligence-driven supply chain planning and production platform, Hyran builds upon decades of family-run apparel manufacturing know-how coupled with expertise in AI.
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What differentiates the tool is that it is supplier-led, therefore suppliers can leverage real-time supply chain data from the start to curb overproduction and waste — and the costs that go with it. All apparel partners along the value chain gain visibility into raw material availability, manufacturing capacity and point-of-sale data throughout the garment’s production.
Hyran is led by cofounders Ahmed Zaidi, who has a doctorate in computer science from the University of Cambridge and claims decades in family-run apparel manufacturing, and Jordan Zhang, a software engineer who built machine learning platforms that scaled within leading tech ecosystems. The technology aims to merge the best of fashion and computer science for a whole new production system. Ultimately, they seek to help brands build data-driven supply chains, minimize unsold inventory and reduce waste.
“Hyran Technologies’ vision is to reduce waste and excess inventory in the fashion industry by enabling speed and flexibility in the supply chain, rather than by trying to predict demand months ahead of time, as is standard practice now,” Zaidi said. “By breaking down historical silos and strengthening connections between manufacturers and brands, we aim to tackle fashion’s overproduction problem with a fundamentally new approach.”
What first drew Closed Loop — a B Corp that has invested in rental services such as By Rotation and circular brands like For Days — to Hyran is the platform’s connectivity across the value chain.
Danielle Joseph, managing director and head of the ventures group at Closed Loop Partners, said, “Hyran’s focus on breaking down longstanding silos in the fashion supply chain can enable collaboration and unlock shared economic benefits, ultimately aiming to minimize waste generated through the supply chain. We look forward to working with the team to scale solutions advancing a waste-free future for the fashion industry.”
Though the early-stage funding amount is undisclosed, the partners said the investment will go toward the launch and development of the tool in the coming months. The platform is in the process of onboarding manufacturers, brands and retailers.
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