French textile manufacturer Syntetica, which uses green chemistry to revolutionize synthetic textile recycling starting with nylon, has raised €4.2 million in a seed funding round led by EQT Ventures. Participation also came from the family offices of Peugeot and Etam, Volta Circle, Better Angle, Pareto Holdings, Athletico Ventures, and Bear Flag Capital.
- Founded in 2023 by Marco Bertone and Louis Monsigny, Syntetica is operating in textile recycling. The startup develops technology that transforms nylon recycling. It utilizes chemicals to break down nylon-blend fabrics, separating and purifying nylon from other fibers, thereby enabling nylon repurposing and reducing landfill waste significantly.
- Being launched less than a year ago, the startup has already formed partnerships with global brands like Victoria’s Secret and Etam. Etam is collaborating closely with Syntetica to launch a capsule collection using recycled materials, with plans to unveil a fully recycled textile prototype by 2026.
Details of the deal
- The fresh capital was led by EQT Ventures, a Stockholm-based multi-stage VC fund with a portfolio that includes 91 startups, 204 investments, and 29 exits, including notable companies like Onramper, Luko, Siilo, and AirKit.
“We first met founders Marco Bertone, Co-Founder and CEO and Louis Monsigny, Co-founder and CTO, through the Entrepreneur First program in Paris. It quickly became clear that we had a shared passion for finding novel ways of solving climate issues, and we were impressed by their technical expertise and challenger mentality,” EQT Ventures’ team, commented on LinkedIn.
- The round saw participation from the family offices of Peugeot and Etam, Volta Circle (the family office of Indorama Ventures’ shareholders), Better Angle, Pareto Holdings, Athletico Ventures, Bear Flag Capital, and high-profile angels, including two-time Formula E champion Jean-Éric Vergne, IDEC Group CEO Patrice Lafargue, and former tennis player Paul-Henri Mathieu.
- The new capital will fuel the team's plans to establish a pilot lab for prototype production and expand its solution across Europe.
