Deal Closing: Lumina Acts as Financial Adviser to Alchemie Technology Ltd on H&M Co: Lab’s and At One Ventures Investment
February 2021 Deal closing
Lumina Capital Advisers acts as financial adviser to Alchemie Technology Ltd on H&M Co:Lab’s and At One Ventures investment into the Company.
Alchemie Technology (Alchemie), a global disruptor of textile dyeing and finishing technology announces its investment from At One Ventures and H&M CO:LAB, H&M Group's investment arm. The investment will support Alchemie's commercial roll-out, aiming to accelerate the transformation of the sustainability profile of textile manufacturing worldwide. Textile dyeing is the second largest cause of water pollution globally and is the largest single contributor to carbon dioxide emissions from the textile industry. Today, it is responsible for over 3% of global CO2 emissions and forecast to increase to 10% by 2050. Alchemie is therefore addressing one of the largest sustainability challenges in the global textile supply chain today with its breakthrough clean-tech digital manufacturing solutions.
The investment will enable Alchemie to accelerate the commercial roll-out of its disruptive digital manufacturing products in the global market: Endeavour™ smart waterless dyeing and Novara™ precision digital finishing. Alchemie's industrial solutions provide a unique value proposition to textile manufacturers, with a lower cost, higher throughput, and radically more sustainable alternative to traditional textile processing. With the addition of software services to digitalise the supply chain, it is also enabling the move to fully connected digital manufacturing. The solution is very timely for the industry, as fashion consumers are demanding more accountability from fashion brands to reduce their environmental impact.
Alchemie's Endeavour™ smart waterless dyeing technology allows garment manufacturers to eliminate the production of contaminated wastewater and dramatically reduce the carbon footprint from dyeing. Demonstrated to radically reduce lead times and enable lower minimum order sizes, alongside a 50% cost saving compared to traditional technologies, the Endeavour™ solution has been well received by textile manufacturers and fashion brands worldwide.
Alchemie has also seen a surge in market demand for its Novara™ precision digital finishing technology. This technology enables significant energy and materials savings compared to traditional technologies, which radically reduces the impact of fabric finishing on the environment and reduces cost. Both Endeavour™ and Novara™ are currently available for implementation, and there is a pipeline of additional sustainable fabric finishing innovations progressing to market based on the Novara™ technology including technologies that deliver eco-friendly, fluorine-free water repellents and advanced bio-based functional finishes.
Alchemie's market opportunity continues to grow, with the increasing pressure in the textile industry to reduce its environmental impact and governments legislating to reduce or eliminate traditional textile manufacturing. Textile manufacturing is an industry that urgently needs new technologies that reduce environmental impact, lower cost and enable end-to-end supply chain digitalisation. Alchemie is uniquely positioned to address this underserved market and transform the sustainability profile of the textile industry.
The funding round was led by At One Ventures, a San Francisco-based venture capital fund focused on disruptive technologies that combat climate change, and H&M CO:LAB, the investment arm of H&M Group.