The French company Losanje, which specializes in upcycling textiles, has received a capital injection of 6.7 million euros.
The company from Varennes-Vauzelles last raised capital in 2023. The round of 2.7 million euros at that time was used to develop an automated cutting system. Losanje demonstrated that this method is also scalable with a patchwork collection for the fashion brand Faguo.
The existing investors UI Investissement and Crédit Agricole are participating again. The new donors include the Lita platform and the family office Evolem. From the public sector, the French Agency for Ecological Transition (ADEME), the state-owned bank Bpifrance and the Bourgogne-Franche-Comté region are participating.
The goals for the coming years include expanding production capacity. In addition, advanced industrial machines will be purchased and new engineers will be hired. The company will also soon be moving to a new 2,500 square meter location in the nearby town of Nevers.
In a post on LinkedIn, co-founder Simon Peyronnaud outlines a new fashion universe. His company plays a revolutionary role in this, comparable to Vinted.
Peyronnaud founded the company in 2020 with his partner Mathieu Khouri. In the article he confirms that 50 customers were supplied with 150,000 upcycled textile products last year. This number is expected to grow to six million items of clothing and accessories by 2030.
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