# TextileRe

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

- Industry: Materials
- Headquarters: Gyeongsangnam-do, South Korea
- Website: https://decacorn.notion.site/691a6c6e445c412da0a3614c945c518a
- Total disclosed funding: $0.4M
- Latest round: Seed (Oct 14, 2024)
- Investors on record: 3

## About

Founded in 2024 and based in Gyeongsangnam-do, South Korea, TextileRe Co., Ltd. is a materials company focused on recycling fabrics, including used polyesters, to produce recycled PET materials. In October 2024, TextileRe raised KRW 600 million in seed funding from investors such as Merry Year Social Company, Kingsley Ventures, and The Ventures. Additionally, the company secured KRW 1.7 billion in technology development funds from the South Korean government’s SMEs and Startups Ministry, along with KRW 120 million for its Startup Growth Technology Development Project. The firm as of October 2024, is led by its CEO, Gong Dong-hwan.

The company addresses the environmental challenges posed by textile waste as well as the detrimental effects of landfill and incineration. TextileRe develops intermediate materials for recycling waste textiles and implements a closed-loop recycling model. Its advanced technology aims to enhance the sustainability of textile processing, potentially reducing carbon dioxide emissions from PET production by up to 60%.

## Funding rounds

- Seed, Oct 14, 2024, $0.4M — Merry Year Social Company, Kingsley Ventures, The Ventures

## Investors

- Merry Year Social Company (https://capitalatlas.ai/funds/merry-year-social-company) — Seed
- Kingsley Ventures (https://capitalatlas.ai/funds/kingsley-ventures) — Seed
- The Ventures (https://capitalatlas.ai/funds/the-ventures) — Seed