Resortecs Raises €2.2M in Seed Funding
• Seed investment and EIC grant combined, the startup is tapping into €4.7M to boost production in 2023 and increase tenfold its disassembly capacity in 2024.
• Belgian Prime Minister, Alexander De Croo, highlighted the importance of funding circular entrepreneurship in a visit to the startup’s warehouse in Brussels.
BRUSSELS, BELGIUM – 26 April, 2023 – Belgian startup Resortecs has raised €2.2 million in a seed investment round led by Brussels-based ScaleFund and finance&invest.brussels. Founded in 2017, the fashion tech company develops design-for-disassembly technology to make textile recycling fast, easy, and cost-efficient.
makesense_invest, AFI Ventures (the impact arm of Ventech), Trividend, and PDS Limited also joined the funding round, which follows a €2.5 million grant received from the European Innovation Council (EIC) in 2022. In total, Resortecs is tapping into €4.7 million to boost production this year and finalize the development of a continuous disassembly line, scaling up tenfold its pre-recycling processing capacity to 10T/day in 2024.
Currently, less than 1% of fashion’s production is recycled, meaning a yearly loss of materials worth €500 billion and placing the sector in the world’s top 5 polluting industries. Behind these figures is the complexity of sorting recyclable and non-recyclable materials.
With Smart Stitch™ (heat-dissolvable thread) and Smart Disassembly™ (industrial-scale thermal disassembly system), Resortecs enables brands to make textile products designed to be easily sorted and disassembled for recycling. Bershka, Decathlon, and H&M already use Resortecs’ Smart Stitch™ heat-dissolvable threads in products sold in over 60 countries.
“Our goal is to reduce the textile industry’s carbon footprint by 40 billion tonnes of CO2 by 2040. For that, we have to think big and take design for disassembly beyond fashion. Our headcount has doubled in less than 6 months. In just a few weeks, Smart Stitch™ will also be found on the world’s first mattress covers designed for disassembly, made in collaboration with Belgian sleep industry leader BekaertDeslee.” – explains Cédric Vanhoeck, Resortecs’ co-founder and CEO.
The Belgian Prime Minister, Alexander De Croo, visited the startup’s warehouse in Brussels on 26 April and highlighted the importance of investing in Belgian circular entrepreneurship:
“As Europe does not have many natural resources, we have to make a choice: we can either look at everything we have already produced as waste, or consider it as potential future raw materials to protect the planet. Innovations like this are key to strengthening our industrial competitiveness. Resortecs is a fine example of green growth and Belgian innovation that is ready to take the world!”
The fashion-tech startup that facilitates industrial-scale textile recycling is one of the 74 high-potential businesses chosen in the most competitive selection of the European Innovation Council (EIC) Accelerator.
BRUSSELS, BELGIUM – Brussels-based startup Resortecs has been selected to receive a grant worth €2.5M from the EIC Accelerator. The startup enables industrial-scale recycling in fashion thanks to high-quality, automated garment disassembly.
Currently, less than 1% of all clothing produced is recycled, largely due to the high costs and complexity in separating different textile materials prior to recycling. Resortecs solves this issue with two patented innovations: Smart Stitch™, heat-dissolvable stitching threads, and Smart Disassembly™, an industrial oven capable of separating the different components of clothing made with Smart Stitch™, all without compromising the quality or creativity of clothing.
Aligned with the EU efforts to accelerate circular fashion and progressively halt fast-fashion production, Resortecs is one of the 74 startups selected out of over 1000 applicants in what is the most competitive funding round from the EIC Accelerator. The high-potential companies will each receive grants and/or equity investments, depending on their needs.
Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth said:
The new wave of innovation is currently led by deep tech start-ups that target societal challenges. I am happy to see so many of them applying to the EIC, in particular from countries that are catching up in their levels of research and innovation performance. Thanks to the European Innovation Council, they will get the support they need to accelerate their growth and lead on the next wave of deep tech.
Founded in 2017 by Cédric Vanhoeck and Vanessa Counaert, in 2021 Resortecs had already raised over €1.8M to fund R&D and start piloting their disassembly solution, now validated by over 30 global fashion giants. Winners of several awards – from the H&M Foundation Global Change Award in 2018 to the 2022 Female Founder Challenge organized by VivaTech and Société Générale just last week – the startup counts on renowned supporters, including La Maison des Startups LVMH in France, Desigual’s Awesome Lab in Spain, and the BMW Foundation’s RESPOND Accelerator in Germany.
We are thrilled to have been selected by the EIC. This sum is a stepping stone to close our current €5M fundraising round – the most ambitious so far. We want to double the team, produce new continuous disassembly systems and scale our thread production to answer the ramping demand for circular solutions coming from the EU textile industry. – Cédric Vanhoeck, co-founder & Executive Lead.
Resortecs’ Smart Stitch™ has already been used in collections such as “Genesis” in collaboration with the American made-to-measure jeans brand Unspun and with H&M for the “Circular Design Story” capsule collection. A new partnership with Spanish giant Inditex is set to hit the stores this summer. By the end of the year, the French Decathlon will launch its first model with Resortecs’ thread: a fully circular ski jacket.
Resortecs is the laureate of Viva Technology & 50inTech’s #FemaleFounderChallenge of 2022! Vanessa Counaert, our co-founder and Strategic Lead, was crowned female founder of the year for Resortecs’ innovation, scaling potential, and solution impact.
The #FemaleFounderChallenge is an initiative that puts female entrepreneurs at the front and aims to accelerate the financing of women-led startups and to urge Venture Capital (VC) funds to commit to more gender equality at all levels. Resortecs was one of the 5 finalists of the challenge, selected out of over 500 applicants from 69 countries.
As the new winner, Vanessa and Resortecs get access to a substantial platform of visibility from Viva Technology – VivaTech is the biggest European event for technology and startups. Additionally, the laureate also gets private meetings with the #FemaleFounderChallenge’s high-level VC jury, a speaking opportunity with Maddyness, mentoring sessions on fundraising with Claire Calmejane from Société Générale, and last but not least, a startup booth at VivaTech 2023.
It was very inspiring for Resortecs to be surrounded by so many female entrepreneurs, with a special shout out to the other 4 finalists: Charlotte Gaudin from AML Factory, Shusma Shankar from Deep Planet, Lilia Leye Shwartsman from MICA AI MEDICAL, and Bola Bardet from Susu.
We are looking for our next Development Engineer, are you the one?
Are you a driven Engineer with an experience in product / mechanical systems development?
If you are passionate about the circular economy, textiles, and technology, this is your opportunity to join a startup leading the clean-tech revolution that will shape the future of fashion!
Check the full job description and apply via the link below:
You will be joining a dynamic and challenging start-up environment! Resortecs is a small and driven international team that is leading the transition towards the circular economy.
This is your opportunity to have huge personal and professional growth. This position has substantial responsibilities, networking opportunities and rapid-progress learning in an innovative atmosphere.
Resortecs strives to grow an inclusive environment, where individual differences are recognized, respected, and responded to in every possible way that makes our people thrive. That’s why all applicants are given equal opportunity regardless of age, gender identity or expression, ethnic origin, nationality, language, disability, religion, socio-economic status, or sexual orientation. Each employee’s distinctive experiences, perspectives, and viewpoints help us build a more resilient, fun, and innovative future for fashion.
Are you the Innovation Engineer we are looking for?
Are you a driven Engineer with a strong interest in generating knowledge from experimentation?
If you are passionate about the circular economy, textiles, and technology, this is your opportunity to join a startup leading the clean-tech revolution that will shape the future of fashion!
Check the full job description and apply via the links below:
You will be joining a dynamic and challenging start-up environment! Resortecs is a small and driven international team that is leading the transition towards the circular economy.
This is your opportunity to have huge personal and professional growth. This position has substantial responsibilities, networking opportunities and rapid-progress learning in an innovative atmosphere.
Resortecs strives to grow an inclusive environment, where individual differences are recognized, respected, and responded to in every possible way that makes our people thrive. That’s why all applicants are given equal opportunity regardless of age, gender identity or expression, ethnic origin, nationality, language, disability, religion, socio-economic status, or sexual orientation. Each employee’s distinctive experiences, perspectives, and viewpoints help us build a more resilient, fun, and innovative future for fashion.