Textile tech startup Vividye closed a 4.1MSEK ($439K) seed round led by Chalmers Ventures, Almi Invest, Yuncture Invest, Daremont Invest, and Louise Lundin. The investment will allow the Swedish company to enhance its printing technology which allows one to remove the colours from a piece of fabric and reapply new ones.
Textile tech startup Vividye raises SEK 4.1 million to revolutionize textile printing
Vividye now closes its first round and raises 4.1 million Swedish kronor. The money will be used to further accelerate technology development. The goal is to lead the development of cyclical textile prints.
The round is carried out by previous owners Chalmers Ventures together with new investors Almi Invest, Yuncture Invest, Daremont Invest and Louise Lundin. Through the investment, Vividye acquires new skills that will be an important part of the growth journey to achieve Vividye’s vision of becoming the obvious choice of textile printing.
“We are pleased to have investors who can help us accelerate our business, we look forward to starting to work together to further develop Vividye.” says CEO and co-founder Johanna Nissén Karlsson.
“Bringing in the expertise that the investment entails will be of great importance for Vividye’s development.” says operations manager and co-founder Gustav-Larsson Utas.
Market-leading textile technology in printing
Vividye’s unique technology is a completely new technology for circular textile printing. It is possible to remove old prints on garments and then print new ones through the technology. A successful collaboration with Gina Tricot was released at the beginning of the year and the entire collection sold out.
“We see that the market and the textile industry demand more innovations that really contribute to a circular consumption.” says Johanna Nissén Karlsson. “Think for yourself about everything that is printed, for example, before an event or in profile clothing. Or a certain fashion print that becomes irrelevant. With Vividye’s innovation, the print can instead be easily updated and renewed – just remove and reprint. Our technology is a real game-changer for the textile industry and our environment! The investments will now give us at Vividye an opportunity to accelerate faster and scale up technology development.”
Business Coach at Chalmers Ventures, Fredrik Örneblad, says “We are impressed by the rapid success Vividye has achieved, but not surprised. The innovation is spun from world-class Chalmers research, where the product addresses critical climate challenges and is part of our transition to a more sustainable society. The team is humble and competent and rarely shows hunger for business and customer value. It is a joy to work together.”