LONDON & AHMEDABAD, India
,
June 30, 2022
(press release)
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Today Materra, a planet-centric AgTech company focusing on climate-resilient cotton production, announces that it has raised a $4.5 million Seed funding round, co-led by H&M Group and Invest FWD (BESTSELLER Group). Materra is on a mission to supercharge a revolution in cotton farming to climate-resilient and equitable cotton production at scale. With the new funding, Materra plans to expand its team and build new partnerships to accelerate its product development and start meeting a growing demand in the next 24 months. “It’s been a hectic but fruitful start to the season, between wrapping up a year of in-field trials, kicking off new partnerships and closing this round. We’re delighted to be supported by investors of this calibre.” says Edward Brial, CEO. “This exciting milestone marks a shift in gear as we plan to significantly scale our operations in India, continue our R&D efforts and accelerate the development of increasingly scalable solutions.” Alongside the H&M Group and Invest FWD, we are excited and thankful to bring on Perivoli Innovations and Fashion For Good as new investors representing huge networks throughout the fashion world. We are grateful for Apex Black for their ongoing support and guidance helping us make it to India. Finally, a huge thank you to the whole Materra team in India and Europe, your determination, adaptability and raw talent are helping us evolve, and informing our direction and ambition every day! A note from H&M Group “Materra is revolutionising the way cotton is grown through using both efficient and regenerative farming systems that radically improve the sustainability performance of the fibre. We look forward to deepening our partnership with Materra and supporting them in the next phase of their exciting development.” - Erik Karlsson, Investment Manager, H&M CO:LAB, H&M Group A note from Invest FWD “Materra has a clear ambition of generating change in the fashion industry through climate resilient production of cotton, and we fully support their mission. We hope to build a long-lasting partnership as an investor and as a business partner to accelerate Materra’s positive development towards a more sustainable and socially responsible cotton production.” - Jeppe Bredahl, responsible for investments at Invest FWD A note from Apex Black “Materra's breakthrough approach is charting a dramatically better way in farming. By delivering higher quality cotton at quadrupled yields, while slashing water by 80%, CO2 by 30%, and eliminating pesticides, it proves that we can have our cake and eat it too. The world can produce a better and more plentiful crop. And it can do so much more beneficially to the climate, natural ecosystems, farmers and customers. The environmental, societal and economic gains cannot be overestimated. We are proud backers of Materra, from the outset of its inspiring journey.” - Rani Saad, Founding Partner, Apex Black Materra is a London and Ahmedabad-based planet-centric company seeking to transform the cotton industry to become more sustainable, transparent and resilient. In 2021, it launched an ambitious partnership with Kering, PVH, Arvind and FFG. 2022 will be filled with more exciting collaborations, including a new pilot farm in India with the H&M Group. Over the coming months, we’ll be expanding our team and are looking for amazing talent to join our mission, so check our website or get in touch on careers@materra.tech. If you’re still reading this and want to collaborate or find out more, get in touch and stay up to date by following Materra on LinkedIn, Instagram, and materra.tech. For press related enquiries: press@materra.tech For brand assets: https://www.materra.tech/press
— Edward Brial, CEO and co-founder
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