Materra raises $4.5m to develop more sustainable cotton
27/06/2022
Materra is a London- and Ahmedabad-based planet-centric company seeking to transform the cotton industry to become more sustainable, transparent and resilient. In 2021, it launched an ambitious partnership with Kering, PVH, Arvind and Fashion For Good. This year, the company is working with the H&M Group on a new pilot farm in India.
In June 2022, Materra announced that it has raised a $4.5 million Seed funding round, co-led by H&M Group and Invest FWD (BESTSELLER Group).
The company is on a mission to supercharge a revolution in cotton farming to climate-resilient and equitable cotton production at scale. Materra has developed new technology to grow cotton with minimal environmental impact and maximum yields in the face of climate change. With the new funding, Materra plans to expand its team and build new partnerships to accelerate its product development and start meeting a growing demand in the next 24 months.
“It’s been a hectic but fruitful start to the season, between wrapping up a year of in-field trials, kicking off new partnerships and closing this round,” said Edward Brial, CEO. “We’re delighted to be supported by investors of this calibre.”
“This exciting milestone marks a shift in gear as we plan to significantly scale our operations in India, continue our R&D efforts and accelerate the development of increasingly scalable solutions.”
Find out more by following Materra on LinkedIn or Instagram, and visiting materra.tech.