Circular Economy Solution Raises Series A, Plans European Expansion

Take-make-waste — that’s how sustainability solution The Renewal Workshop describes the fashion industry’s past. But the future looks bright with the rise of circularity and “re-commerce,” or brands’ products that are resold on third-party web sites. The Renewal Workshop — an e-commerce platform that provides circular solutions for apparel and textile brands — today announced a $5.5 million “Series A” financing round for expansion into European markets, in addition to tripling its U.S. operations. The round is led by European venture capital and impact investors Social Impact Ventures, SHIFT Invest and Quadia with participation from existing U.S. investors Closed Loop Ventures, Gratitude Railroad, Portland Seed Fund and High Meadows Investment Group, the firm said. And the emergence of re-commerce aligns well with The Renewal Workshop’s platform, which offers a complete solution that manages the collection, renewal, and quality of a brand’s damaged or used garments, as well as the back-end of the brand’s own re-commerce site, the firm explained. Its platform is centered on recovering value from unsellable inventory: Through The Renewal System, the firm takes discarded apparel and textiles from brands and converts them into “Renewed Apparel,” upcycled materials or recycling feedstock. Then, data is collected on each piece that moves

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