Evolved By Nature, a biotech firm backed by French fashion company Chanel, said on Thursday it has raised $120m in a financing round, adding new investors including one of Canada's biggest pension funds.
Fashion companies are scrambling to improve their environmental track records to meet UN sustainable development goals, according to a recent report by Business of Fashion. “We went after the largest-volume fabric produced — and how do we get chemical coatings off of the fabric,” he said, explaining the focus on polyester and nylon.
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