Seaweed-maker AlgiKnit Pulls $13M as Tech Solutions Soar for Traceable Wool, Plus-size Fits: Short Takes
AlgiKnit Inks $13M: Seaweed-powered materials innovator AlgiKnit announced a $13 million Series A close on Wednesday.
The news coincides with the opening of its new manufacturing facility in the Research Triangle area of North Carolina, and the fundraise will enable AlgiKnit to continue scaling up its production capacity in line with demand from fashion and textiles industries. In the next few months, the company will announce new partnerships and pilots planned with brand collaborators.
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In a past interview with WWD, cofounder Tessa Callaghan said sustainability is no longer a luxury but a requirement, and the company anticipates what’s to come.
“Despite all of the challenges and hardships we have all faced over the last two years, we are nonetheless encouraged, excited and more optimistic than ever about the future,” she said. “As a team, we are eagerly anticipating the next exciting chapter of our journey in 2022 and looking forward to sharing and growing with our community.”
Better Fit, Traceable Tech: Chargeurs announced the launch of its first innerwear components made with traceable wool at the 10th Future Fabrics Expo in London.
Enabled by blockchain-traced Nativa wool, the line comprises interlinings, garment padding, insulation, shoulder pads and more made from certified Merino wool fibers. According to the world-class innerwear leader, brands will be better able to communicate their sustainability chops to customers. Already, current Nativa customers include Stella McCartney, Vivienne Westwood, Madewell and Reformation.
“With this launch, we now have a wider portfolio of Nativa products to offer our current customers and we can introduce the Nativa concept to Chargeurs PCC’s customers,” Federico Paullier, managing director of Chargeurs Luxury Materials, said in a statement. “Nativa supports end brands with sustainability in wool, with full traceability from farm to brand, CSR along the supply chain and innovative fiber solutions; by partnering with Chargeurs PCC, we can now add many essential inner components to our offering as well.”
Meanwhile, virtual fitting room solution Perfitly announced a new partnership with To Act Brand, a German/U.K. plus-size retailer. In a European size range of 42 to 54 (or L to 4XL in U.S. sizes), the move greatly expands size inclusivity, while being a win for reduced return rates, and thus, sustainability concerns.
Perfitly’s solutions will sit on the To Act Brand’s homepage where customers can create a digital avatar of themselves and select any fashion piece in the brand’s spring 2022 collection, to try on and personalize according to their sizing needs.
To Act Brand’s chief executive officer Anna Carlotta said the partnership further allows the brand’s sustainability message to come across to newly engaged customers.
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