EverDye’s €15 million series a round set to scale sustainable textile innovation
EverDye, a pioneering biosourced dye solutions company for the textile industry, has successfully raised €15 million in its Series A funding round. The round, which was oversubscribed more than twice, was led by Crédit Mutuel Innovation and Daphni, with strategic participation from Ring, EIC, 212 Next, Asterion Ventures, and Maki.VC. This funding boost follows the company’s previous €2 million raise in 2022, placing EverDye in a strong position to expand its sustainable dyeing process.
Founded in 2021, EverDye is committed to reducing the environmental impact of the textile industry. The company’s bio-sourced pigments enable dyeing at room temperature, reducing energy consumption by a factor of three compared to traditional processes. This breakthrough addresses a significant issue, as dyeing processes are responsible for nearly half of the textile industry’s greenhouse gas emissions and 20% of global water pollution.
The textile industry’s impact on the environment is staggering, but we believe our bio-sourced pigments can help reverse this trend. Our solution offers textile manufacturers an opportunity to meet both environmental and financial goals.
Philippe Berlan, CEO of EverDye
The €15 million funding will be used to scale EverDye’s operations, increase its team size, and accelerate its industrial production capabilities. With a plan to triple its workforce by 2028, the company is positioning itself as a leader in sustainable textile solutions.
EverDye has effectively combined scientific innovation with practical applications. By leveraging its strong intellectual property and offering a dyeing process compatible with existing infrastructure, the company has built significant barriers to entry, positioning it for long-term success.
Pierre-Eric Leibovici, Partner at Daphni
With a growing pipeline of partnerships and a proven track record in sustainable textile solutions, EverDye is poised to lead the way in reducing the environmental footprint of the textile industry while offering manufacturers a more cost-effective alternative to traditional dyeing processes.
