# Evrnu

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/evrnu

- Industry: Materials
- Headquarters: Seattle, US
- Website: www.evrnu.com
- Total disclosed funding: $15M
- Latest round: Series B (Oct 8, 2021)
- Investors on record: 13

## About

Based in Seattle, Washington, Evrnu Inc. specializes in advanced material innovation, transforming textile waste into sustainable fiber solutions. The company’s focus is on promoting circularity in the textile industry through its proprietary Nucycl® technology.Evrnu Inc. is dedicated to regenerating cotton waste into new fibers, primarily using its proprietary Nucycl® technology. Founded in 2014, the company has successfully completed 7 deals, with the latest funding round occurring on August 11, 2023, where it raised USD 750,000 in Venture Debt, bringing the total amount raised to USD 2.41 mn. The company is co-founded by Christopher Stanev and Stacy Flynn, who also serves as the CEO.Evrnu® specializes in advanced material innovation, particularly through its proprietary Nucycl® technology, which regenerates cotton waste into new fibers that can be repeatedly reformed. The primary offering, Nucycl® lyocell fiber, is derived from used garments and textile production waste, particularly those with high cotton content. This fiber is engineered to meet specific performance properties required by various applications, including casual apparel, footwear, and home textiles. Key partnerships with brands such as Levi’s, Stella McCartney, and Zara showcase Nucycl®’s versatility and market demand, as these companies utilize the fiber in their sustainable product lines. Evrnu® products are primarily marketed in North America and Europe, with a growing interest from international fashion and textile brands committed to sustainable practices.Evrnu® generates revenue through partnerships and collaborations with fashion brands, utilizing a business-to-business (B2B) transaction model. These partnerships involve the sale of Nucycl® fiber to retailers and manufacturers, who incorporate the material into their product lines. The transaction structure is characterized by custom agreements based on order volumes and specific material requirements. Evrnu® also engages in take-back programs where retailers can provide used textiles as a raw material input for Nucycl® production, further enhancing the brand's commitment to circularity. While specific pricing details for Nucycl® products are not disclosed, the company’s focus on high-quality, sustainable materials positions it as a premium supplier in the textile industry.Evrnu Inc. plans to expand its product line with the introduction of new Nucycl® variants tailored for additional textile applications, expected to launch in 2024. The company aims to broaden its market reach into Asia and South America by mid-2025, targeting partnerships with local brands invested in sustainable practices. The recent funding of USD 750,000 will support these initiatives, focusing on enhancing production capabilities and developing new product offerings.

## Funding rounds

- Series B, Oct 8, 2021, $9.7M — FullCycle, Bestseller, Hansae Yes24 Partners, PDS Ventures
- Series A, May 31, 2019, $4.9M — Radicle Impact Partners, Plum Alley, Closed Loop Partners, The Mills Fabrica, Magic Hour, Twynam Investments, Future Tech Lab, Giant Leap, CYCLEffect Regenerative Ventures

## Investors

- Radicle Impact Partners (https://capitalatlas.ai/funds/radicle-impact-partners) — Series A
- Plum Alley (https://capitalatlas.ai/funds/plum-alley) — Series A
- Closed Loop Partners (https://capitalatlas.ai/funds/closed-loop-partners) — Series A
- The Mills Fabrica (https://capitalatlas.ai/funds/the-mills-fabrica) — Series A
- Magic Hour (https://capitalatlas.ai/funds/magic-hour) — Series A
- Twynam Investments (https://capitalatlas.ai/funds/twynam-investments) — Series A
- Future Tech Lab — Series A
- Giant Leap (https://capitalatlas.ai/funds/giant-leap) — Series A
- CYCLEffect Regenerative Ventures — Series A
- FullCycle (https://capitalatlas.ai/funds/fullcycle) — Series B
- Bestseller — Series B
- Hansae Yes24 Partners (https://capitalatlas.ai/funds/hansae-yes24-partners) — Series B
- PDS Ventures (https://capitalatlas.ai/funds/pds-ventures) — Series B