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November 9, 2023

Octarine Bio Pioneering Sustainable Fashion with €4.35 Million in Funding

Stride toward sustainable innovation, Denmark's Octarine Bio has just wrapped up an impressive €4.35 million in funding

In the vibrant world of sustainable fashion, Danish synthetic biology startup Octarine Bio is making waves. They have successfully concluded a €4.35 million funding round, led by the esteemed impact venture capital firm, Unconventional Ventures. Joining this quest for eco-conscious fashion are Óskare Capital, The Footprint Firm, and dsm-firmenich Venturing.

Textile dyeing, a process deeply woven into the fabric of fashion, is also one of its darkest secrets. Traditional synthetic dyes are not only energy-intensive but environmentally destructive, contributing to 2.4% of global greenhouse gas emissions, 20% of the world's wastewater, and 35% of released chemicals. Octarine Bio's game-changing solution, known as OB-CLR, harnesses the power of precision microbial fermentation to create dyes, specifically focusing on violacein, a naturally occurring pigment.

This innovation not only introduces unique and elusive colors to the fashion industry but does so sustainably. Unlike traditional dyeing methods, Octarine Bio's process is kind to both natural and synthetic fibers, eliminating the need for additional chemicals and harsh conditions. The result? A natural alternative that wears the eco-friendly fashion crown with pride.

The fashion world often finds itself in the crosshairs of environmental critics due to fast fashion practices. Octarine Bio, however, is crafting a different narrative by offering a solution that can seamlessly integrate into existing supply chains, paving the way for a more eco-conscious industry.

Thea Messel, Co-founder and General Partner at Unconventional Ventures, underscores the urgency of change. "The textile industry must switch to a more aggressive decarbonization trajectory to reduce its contribution to greenhouse gas emissions, water pollution, and climate change," she emphasizes. Octarine Bio's groundbreaking technology is a key player in this transition, steering the industry toward sustainable practices and away from harmful synthetic dyes.

Nethaji Gallage, CEO and co-founder of Octarine, shares the company's mission for a more sustainable future. "At Octarine, we are driven by a more sustainable future where pressing environmental and social challenges are met with innovative, game-changing, and sustainable solutions," he says.

With this latest funding, Octarine Bio has not only raised over €12 million in total but has also positioned itself to scale its product portfolio. This achievement solidifies their role as a leader in nature-based dyes and as a driving force in transforming the fashion industry into a more sustainable and environmentally friendly sector. The future of fashion is, indeed, looking greener.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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