Green Theme Technologies (GTT), a leader in creating sustainable solutions for the textile and fashion industries, announced the first close of its series B financing, resulted in hitting is goal of $3.5 million. The funds will used to grow the company’s sustainable and performance-driven platform technologies (including the water-free EMPEL textile finishing process), hire new employees, and support licensing partners.
“We are pleased with our fundraising performance and will use the Series B funding to further develop and commercialize our platform technologies, including a durable water repellent (DWR) finish and our water-free dye (WFD) product,” said Jordan Clancy, CFO with GTT. “Within the next six months we will double our headcount in New Mexico, expanding our team to support commercialization, licensees, and accelerate revenue growth.”
Notable investors in the series B round include Phoenix Venture Partners and Safer Made, both of whom invest in sustainably focused inventions, platforms and companies taking an active role in creating a green future for our planet.
The textile and fashion industries are the second biggest water polluters on Earth and Green Theme’s business model intends to change that. By replacing traditional water-based wet finishing processes currently used to apply water repellents, dyes, and more with the clean, efficient, and water-free EMPEL process, GTT and its licensing partners are reducing the amount of water pollution in the world. The result is cleaner, better performing, and more sustainable textile products.