Osborne Clarke advises eeden on EUR 18 million Series A financing round

Osborne Clarke Osborne Clarke has advised technology start-up eeden on a EUR 18 million Series A financing round. The round was led by Forbion’s BioEconomy Fund, with participation from new investors Henkel Ventures and NRW.Venture as well as existing investors TechVision Fonds (TVF), High-Tech Gründerfonds (HTGF) and D11Z. Ventures.

To address the ongoing challenges of the textile industry, eeden has developed a chemical recycling technology that recovers pure cellulose and PET building blocks (monomers) from cotton-polyester blends. Their products can be used to produce virgin-quality lyocell, viscose, and polyester fibers thereby offering a resource-efficient alternative to conventional fibers and unlocking new circular value chains.

Now, eeden has successfully completed its Series A financing round of EUR 18 million. With the newly acquired capital, eeden intends to build its demonstration plant in Münster, optimize large-scale processing and establish commercial projects with key players in the textile industry.

“Over the past few years, we have developed a proven solution that has the potential to meet the industry’s long-term need for cost-efficient and high-performing circular materials. We are proud that our new and existing investors believe in our approach and share our vision. With their support, we are ready to scale our technology and turn textile waste into materials the industry truly needs,” said Steffen Gerlach, CEO & Co-Founder of eeden.

The Osborne Clarke team advising eeden on this funding round, led by Dr Benjamin Monheim and Benedikt Hülsmann (both Corporate), consisted of Dr Johannes Graf Ballestrem and Christoph Pitzer (both IP), Adrian Schneider und Lucie Fassbender (both IT), Susanne Schricker (Competition), Nils-Frederik Wiehmann (Employment) as well as Florian Merkle und Patrick Seiler (both Tax).