Geneva – ID Genève, first manufacturer of circular luxury watches, has received seed funding of 2 million Swiss francs. Actor Leonardo DiCaprio is also among the investors. The young company intends to use the fresh capital to accelerate its growth.
ID Genève, Geneva-based manufacturer of luxury watches and pioneer of the circular economy, has raised fresh capital of 2 million Swiss francs. Several Swiss family offices as well as actor Leonardo DiCaprio participated in this seed financing round. He has been involved in environmental protection since 1998 with his own foundation.
“I am thrilled to be an investor in ID Genève, a brand that is driving change in the luxury industry and beyond,” DiCaprio was quoted as saying in a company media release. The company does this, he said, “by consistently innovating and focusing on the principles of the circular economy.”
“We are thrilled that this partnership has come together,” said ID Genève co-founder Nicolas Freudiger. “We hope this synergy will not only give us a louder voice, but also inspire and challenge our colleagues in the luxury industry and beyond.”
ID Genève was founded in 2020 through a campaign on the Swiss crowdfunding platform wemakeit. The company sources recyclable materials with a lower carbon footprint, produces bracelets from green waste that are 100 percent industrially compostable, and uses refurbished mechanical movements and other recycled materials.
For example, the recycled solar steel used in ID Geneve’s latest Circular S collection is remelted in a solar furnace, which reportedly results in a carbon footprint 165 times smaller than conventional steel. ID Genève is currently setting up a laboratory to develop ecologically innovative materials and processes and make them available not only to the watchmaking industry. ce/mm
