eBay hopes the investment will enhance the reach of Refiberd’s advanced AI system, which can identify the composition of textiles to ensure proper sorting and recycling.
Refiberd uses its hyperspectral imaging technology combined with AI to assist textile recycling entities. Its system can be incorporated into current recycling frameworks to categorise materials and ensure they undergo appropriate recycling processes.
Go deeper with GlobalData
Refiberd co-founder and CEO Sarika Bajaj said: “We’re honoured to win eBay’s first Circular Fashion Innovator of the Year Award. The investment from eBay Ventures will help us close a significant round of fundraising for the business, allowing us to expand our technology to new recycling partners, strengthen our AI capabilities, and move faster toward our mission of enabling true textile-to-textile recycling.
“The journey for a startup is tough, so having the mentorship and access to eBay and the CFDA’s networks has already proven invaluable. With this added support we can accelerate our impact and help build a future where circular fashion is the norm— not the exception.”
Refiberd was awarded the fund as the winner of eBay’s Circular Fashion Innovator of the Year Award, which recognised 12 businesses from the UK, US, Germany, and Australia for their contributions to advancing a more sustainable fashion industry.
The initiative is part of eBay’s ongoing effort to back fashion startups that are scaling circular solutions through its global Circular Fashion Fund programme.
Besides Refiberd, other national finalists included SOJO from the UK, which facilitates clothing repairs with a door-to-door service; Made Out of Trash (MOOT) from Germany, which provides a comprehensive upcycling plugin for brands and Shopfront from Australia, which leverages AI for efficient fashion resale across various platforms.
Each country finalist received grants beginning at $50,000 in their local currencies.
eBay VP global head of fashion Alexis Hoopes said: “As the pioneering secondary marketplace, eBay has been driving circularity in fashion since its inception 30 years ago.
“It’s a critical time for the fashion industry, and eBay’s Circular Fashion Fund — and the eBay platform at-large — are propelling the industry forward, enabling innovative ideas to help shape brand and consumer behaviours.”
Since launching in 2022, the Circular Fashion Fund has supported 27 businesses and plans to invest $1.2m by 2025 with over 200 hours of mentoring from industry specialists.
In collaboration with leading fashion councils like BFC, CFDA, FCG, and AFC, eBay provides recipients with access and visibility within the industry to foster their business growth.
In October last year, eBay announced a $1.2m investment in its Circular Fashion Fund by the end of 2025.
