Bern – OceanSafe has successfully completed a financing round. With this, the developer of fully degradable yarns wants to expand its construction kit for the textile industry to 3,000 elements with which it can create recyclable products.
OceanSafe has received seed capital in an undisclosed amount in a financing round. It was led by Rütters GmbH, a German family office with roots in the textile industry, and Zurich-based exelixis capital, which focuses on venture capital for the circular economy.
According to a media release, these additional funds will enable the Bern-based startup, founded in 2019, to further develop its technology development for recyclable materials, particularly for novel synthetic textile filaments and yarns. OceanSafe also plans to expand its international presence and provide recycling solutions.
CEO Manuel Schweizer had already announced at the 5th symposium of the NextGenerations association at the beginning of September that his company wanted to “ignite the next stage” with the emerging successful financing round: It is developing a construction kit with 3,000 yarns, dyes and buttons with which conventional textile companies can also produce recyclable products.
According to investor Knut Rütters, managing director of German textile company Rütex, OceanSafe “has the team and expertise to operate at the highest level. OceanSafe will undoubtedly lead the textile industry’s sustainability efforts toward a circular future.” He said his company has also entered into a global distribution partnership for OceanSafe’s “breakthrough fibers and yarns.”
“OceanSafe has the potential to change the entire textile industry,” investor Dr. Günther Dobrauz of exelixis capital is also convinced. “We strongly believe in the technology and its enormous potential to positively impact the environment.” mm
