Mumbai, Jan 06: UNIREC, one of the first sustainable brands from India that creates clothing made from recycled PET bottles, today announced a significant moment in its journey towards a greener future. The company has successfully closed a seed funding round, securing a substantial investment of $190,000 USD (1.5 Crore in INR) from BeyondSeed, a leading Singapore-based seed fund.
The $190,000 USD(1.5 Crore in INR) seed funding, exclusively provided by BeyondSeed, is strategically allocated to help in market expansion and intensify research and development efforts for the creation of innovative, sustainable fabrics. This financial support positions UNIREC to make a significant impact on the burgeoning market opportunity in the sustainable fashion market.
Notably, over the past 18 months, UNIREC has achieved significant milestones, selling more than 25,000 garments made from recycled PET bottles. This not only translates to the recycling of 300,000 PET bottles but also marks a remarkable reduction of over 100 tonnes of carbon emissions and the recycling of 6000 kilograms of plastic bottles.
“Our focus is on scaling rapidly, both online and offline. Currently, we have manufactured 40,000 garments in 18 months, of which 25,000 have already been sold. Our immediate goal, fuelled by this funding round, is to manufacture and sell 25,000 garments every month, ensuring that the environmental impact achieved in the past 18 months is replicated every month,” stated Kapil Bhatia, CEO and Founder of UNIREC.
“This marks a significant milestone for UNIREC. We are grateful for the support of BeyondSeed and are excited to accelerate our mission of creating sustainable fashion that makes a positive impact on the environment,” further added Bhatia.
BeyondSeed, as a member-driven growth engine, plays a crucial role in supporting early-stage startups like UNIREC. The platform provides founders with access to essential resources, including capital, talent, mentorship, and expert guidance.
Speaking on behalf of BeyondSeed, Kuldeep Mirani, Co-Founder & CEO commented, “This strategic partnership between UNIREC and BeyondSeed underscores the commitment to turning the global problem of plastic waste into an opportunity. We are excited to back not just a great idea but also a very able and passionate team with the vision to address an issue of global concern.”
Each garment produced by UNIREC contributes to the recycling of 10 plastic bottles on average. The brand not only manufactures t-shirts but also formal jackets, sleeveless jackets, trousers, and shirts, addressing a diverse range of clothing needs and emphasizing the intersection of fashion and sustainability.