Colorifix, which describes itself as offering the world’s first entirely biological textile dyeing without the use of petrochemicals, hopes its new investment led by Inter IKEA Group will fuel its global commercial expansion.
The new $18m funding will support its production capacity expansion across Europe and Asia, deepen commercial engagements with textile manufacturers and brands and further develop colours with Colorifix’s proprietary microorganisms and bio-processes.
Colourifix explains it has made significant progress in deploying its sustainable dyeing technology around the world since its last funding round in 2022.
It now operates in Europe and Latin America with licenses also granted for customer onboarding in India and Sri Lanka. It notes this underlines a transition from small-scale industrial deployments to large-volume commercial capacity.
The company has continued support from H&M Group Ventures, Sagana and Regeneration.VC, as well as new participation from Goldwin Play Earth Fund, Ljungstrom family office and Youngone CVC.
Its main customer focus is the fashion industry, however it has additional agreements in place for partnerships in the cosmetics and homewares segments.
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By GlobalDataColorifix’s technology uses a biological fermentation process to significantly reduce its environmental impact. It uses engineered microorganisms to produce and deposit colour directly onto fabric, which means no harsh chemicals are needed and it uses significantly less water and energy.
Colorifix CEO Orr Yarkoni says: “This investment marks a critical milestone as we shift from proving our technology to delivering it at industrial scale.
“With Inter IKEA Group joining as lead investor and continued backing from H&M, we are uniquely positioned to accelerate adoption of our biology-based dyeing across global supply chains — eliminating the need for petrochemicals in dye production and drastically reducing water and electricity usage in the dyeing process itself.”
Linn Clabburn from Innovation Ventures at Inter IKEA Group adds: “Colorifix is addressing one of the toughest sustainability challenges in textiles. Their progress in scaling this technology and entering new markets aligns well with our ambitions to improve sustainability in the value chain.”
Yarkoni explains: “Over the last few years, we have gone from grammes to tonnes of fabric per week. We are very excited for the next phase of growth, and with partners strongly committed to sustainability such as Inter IKEA Group and H&M, we are sure to make a difference!”
Colorifix now operates across multiple locations, including its headquarters at Norwich Research Park, production of bioreactors and a demo site in Portugal, as well as an office in London. The company has grown from pioneering lab-based proof-of-concepts to implementation with global manufacturers.
