The new funding will allow The Movement to grow its team, invest in technology and create more sustainable alternatives for the textile industry, it says.
The Movement offers innovative sustainable fibre and yarn solutions for the textile industry, which it claims is 100% traceable. In addition to the Polylana fibre, the company has an integrity solution called Aware that can authenticate recycled yarns in a final product to verify sustainability claims.
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In a statement, the company says it is no longer possible to treat sustainability as a ‘nice-to-have’. The textile industry is overwhelmed by the increasing public and regulatory pressure, it says, however, implementing sustainability in textile supply chains is extremely challenging for brands and retailers with global production networks geographically long and complex, increasing the risk of greenwashing.
“We are a purpose-driven company, aiming to help textile brands and retailers to execute their sustainability goals”, says founder and managing director, Feico van der Veen. “With our solutions, we offer full transparency and traceability, proving real impact. This funding from a strategic partner, allows us to expand our engineering, business development and teams. We are looking to hire the best talent wanting to join our mission to lower the impact of textiles.”
An important part of the investment will be used for the further development of the Aware blockchain platform. “With our technology, based on patented physical tracers and public blockchain, we will prove soon that third party certifications are no longer needed. Also, we will be able to provide NFTs for physical real sustainable textile products”, says Koen Warmerdam, brand manager of Aware. “Only backed with disruptive technology and true clean data, consumers can trust sustainability claims made on final products by brands.”
The Movement was founded in The Netherlands in January 2020, with a vision to make sustainable alternatives available for the textile industry, combined with seamless supply chain integration. First backed by angel investors, and now with a pre-seed investment from a strategic partner.
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By GlobalDataThe Movement is a member of the Textile Exchange and the traceability partner for the Denim Deal, launched by the Dutch Government, and has offices in Amsterdam and Shanghai.
The innovative Polylana fibre was developed as a lower-impact alternative for acrylic fibre. The company says that as acrylic fibre is made from acrylonitrile (ACN), it produces large quantities of hydrogen cyanide and has a large environmental footprint. “With Polylana fibre we offer a better alternative but with the same characteristics as wool”, says Tatiana Ponce Carmona, brand manager of Polylana fibre. “With the investment, we can intensify our presence and offering, but also start R&D with bio-based chemicals”.
