Ever Dye raises €15 million to advance to the industrial stage

French biosourced textile dye specialist Ever Dye has announced the raising of €15 million to finance its move to an industrial scale.

The Romainville-based company led this round of financing with Crédit Mutuel Innovation and the Daphni fund, while Ring Capital, EIC Fund and 2021 Next took part in the deal along with historic investors Asterion Ventures and Maki VC.

Ever Dye had already raised 3.4 million euros in January 2023. Headed by Philippe Berlan, former managing director of La Redoute, the company offers a bio-based dyeing process that can be utilized through existing dyers’ infrastructures. This approach, based on biosourced pigments, could reduce the carbon impact of textile dyeing by 61% to 89%.

A study of dyeing, which remains one of the major black spots in the textile supply chain, from an environmental point of view. Often derived from petrochemicals, pigments and their applicators are responsible for 20% of global water pollution. Dyeing is even said to account for 52% of the sector’s carbon emissions, notably via the amount of energy consumed by the processes.

After three years of development, Ever Dye’s process has now received the commitment of retailers and brands such as Lacoste, Adore Me, Kiabi and Petit Bateau. A major French luxury brand has also committed to a concrete collaboration with the company, which now intends to move from the laboratory to the factory stage.