Infinited Fiber Company, a Finnish waste recycler that creates super fibers known as "Infinna," raised EUR 27 million (~USD 29.4 million), marking the completion of a two-part development financing round totaling EUR 40 million (~USD 43.6 million). The funding was led by investors Inditex Group, TTY Management, Youngone, and Goldwin and joined alongside existing investors H&M Group, Adidas, BESTSELLER, Zalando, VTT Ventures, Security Trading, and Nidoco AB.

The funds will be used to scale up the company’s patented technology, which converts cotton-rich textile waste into Infinna, a virgin-quality textile fiber that possesses the look and feel of cotton.

Analyst QuickTake: The funding to scale Infinna comes as the company constructs its first commercial-scale plant in Finland. The company also secured supply agreements with Lindex and Inditex , valued at over EUR 100 million (~USD 108.9 million)