This startup helping fashion cut down on fossil fuels with dyes made of vegetal waste just raised $3.7 million. Here’s the 15-slide pitch deck Ever Dye used to raise the cash.
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- A startup hoping to help fashion cut its reliance on fossil fuels just raised $3.7 million.
- Ever Dye has developed a bio-based pigment to make dyeing garments more environmentally friendly.
- Take a peek at the 15-slide pitch deck Ever Dye used to raise the funds from Nordic firm Maki.vc.
A French startup developing a way to dye materials more sustainably has just raised a 3.4 million euros (around $3.7 million) seed round from Nordic early-stage investor Maki.vc.
Paris-based Ever Dye, founded in 2021, has developed a bio-sourced pigment made of vegetal waste that can dye materials in 30 minutes and at room temperature. Traditional, synthetic dyes rely on chemicals that are derived from fossil fuels, take hours to apply, and require high temperatures. Such chemicals can also be toxic and pollute clean water.
Some 10% of all greenhouse gas emissions are caused by clothing and footwear production, according to the EU. The clothes and textile industry is also water-intensive, with it accounting for 1.5 trillion liters of water annually.
Fabrics today are first bleached, dyed, and then treated, and are washed multiple times in between, Ever Dye cofounder Ilan Palacci told Insider. The process itself is “inefficient” and can only be as green as its energy source, he said.
Palacci, an industrial engineer whose family has a background in textiles, met his cofounder Amira Erokh on the accelerator Entrepreneur First. Erokh is a chemist who developed anti-virus textiles for NATO and the pair had lots of ideas from the get-go, Palacci said.
They spoke with Palacci’s family and established that any solution to reduce textiles’ energy, water, and petrochemical use would have to fit into existing manufacturing processes so it didn’t leave manufacturers out-of-pocket.
Ever Dye has developed a way to bleach a fabric that uses chemistry to also pre-treat the surface of the fiber and give it a negative charge. The startup’s bio-pigment is then charged positively, so it attaches to the fabric in the same way magnets would attach to each other.
The company claims its bleaching process takes one hour at 50 degrees Celsius, versus the 90 degrees Celsius typically used today. The second step – dyeing – takes 30 minutes at room temperature. Palacci said this traditionally takes up to 10 hours at 90 degrees to 130 degrees celsius, meaning the startup’s process is much faster and uses less energy.
Ever Dye’s process also uses less water because it doesn’t require as many washes in between, Palacci added. The company uses minerals for its colors, starting with black, red, and blue.
It fits into existing processes – manufacturers swap out existing chemicals and dyes with Ever Dye’s alternatives. “We just change everything chemically, but we’re not changing mechanically,” Palacci said.
Ever Dye is working with French clothing company Petit Bateau, which has been testing its process for 12 months. It plans to use the fresh cash to scale up and build more partnerships.
With a current headcount of 11, the startup will triple its team in the next two years.
The round was led by Maki.vc, with participation from French firm Asterion Ventures and Entrepreneur First. It includes 1.4 million euros (around $1.5 million) of non-equity funding from the French investment bank Bpifrance.
Check out the 15-slide pitch deck Ever Dye used to raise the funds. The company removed or redacted sensitive slides and information.