# The Renewal Workshop

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/the-renewal-workshop

- Industry: Retail
- Headquarters: Cascade Locks, US
- Website: www.renewalworkshop.com
- Total disclosed funding: $5.5M
- Latest round: Series A (Dec 11, 2019)
- Investors on record: 7

## About

The Renewal Workshop, Inc. focuses on transforming unsold and returned textile products into sustainable apparel through upcycling, promoting a circular economy within the fashion industry.Founded in 2015 in Cascade Locks, US by Jeff Denby and Nicole Bassett, The Renewal Workshop, Inc. addresses textile waste by restoring unsellable products. The company underwent a significant transition when it was acquired by Bleckmann BV in March 2022 for an undisclosed amount. Since its inception, the company has participated in 4 funding deals, with the latest round occurring in March 2022, raising a total of USD 6.00 mn through various investors including Closed Loop Partners and Fashion for Good.Renewal Workshop specializes in providing innovative solutions for the textile and apparel industry through its core service of upcycling and circular economy initiatives. The company collects unsold or returned products from various retailers and brands, processes these items to restore them to a sellable condition, and then distributes them under its own brand or partners with retail clients. This service addresses the pressing issue of textile waste, aiming to extend the life cycle of apparel and reduce environmental impact. Primarily targeting markets in North America and Europe, Renewal Workshop serves a diverse client base that includes environmentally conscious brands looking to enhance their sustainability efforts and retailers seeking to meet consumer demand for sustainable products.The revenue generation model of Renewal Workshop is centered around partnerships with brands and retailers, focusing on a B2B transaction structure. The company engages in contractual agreements with its partners, which outline the terms for collecting and processing unsold inventory. Revenue is derived from the sale of upcycled products, which may be marketed through both direct sales channels and wholesale distributions to retailers. Additionally, Renewal Workshop may offer subscription models for brands that wish to regularly offload surplus inventory while providing them with sustainable solutions to manage their excess stock. Specific pricing plans for products and services are established based on the unique partnership agreements, taking into account the volume of inventory processed and the retail price points set for the upcycled products.The Renewal Workshop plans to launch new upcycled product lines and expand into additional markets in North America and Europe by mid-2023. The recent funding of USD 6.00 mn will support these initiatives, enhancing their capacity to process more returned inventory while promoting sustainability. This growth strategy is underpinned by their acquisition by Bleckmann BV, which aims to leverage operational synergies to increase market reach and efficiency.

## Funding rounds

- Series A, Dec 11, 2019, $5.5M — Portland Seed Fund, SHIFT Invest, Gratitude Railroad, Rubio Impact Ventures, Closed Loop Partners, Quadia, High Meadows Investment Group LLC

## Investors

- Portland Seed Fund (https://capitalatlas.ai/funds/portland-seed-fund) — Series A
- SHIFT Invest (https://capitalatlas.ai/funds/shift-invest) — Series A
- Gratitude Railroad — Series A
- Rubio Impact Ventures (https://capitalatlas.ai/funds/rubio-impact-ventures) — Series A
- Closed Loop Partners (https://capitalatlas.ai/funds/closed-loop-partners) — Series A
- Quadia (https://capitalatlas.ai/funds/quadia) — Series A
- High Meadows Investment Group LLC — Series A