Since its launch in 2020, Refiberd has won awards from SXSW Pitch, Fashion for Good, and the H&M Foundation, and has raised $3.4 million in funding. The company's goal is to get its technology into the hands of existing sorters and recyclers to maximize impact. While it is currently focusing on North American and European partnerships, it is open to collaborations with other countries. Despite its success, co-founder Sarika Bajaj says the real achievement will be seeing a tangible increase in textile recycling.
Key takeaways:
- Refiberd is a startup that aims to tackle the global problem of textile waste, which amounts to 186 billion pounds annually, with less than 1% being recycled.
- The company has developed a unique textile recycling system that uses artificial intelligence-based hyperspectral imaging to identify and sort different types of textile materials for recycling.
- Refiberd's technology could potentially sort up to seven million pounds of material annually per unit, and it is estimated that 4,000 units could solve America's textile waste problem.
- Despite winning several awards and securing significant funding, the co-founders of Refiberd are focused on increasing the tangible percentage of textile recycling and making a real change in the industry.