JeCLEAN Secures Series A Funding from DVP to Advance Sustainable Textile Recycling
Reading Time: 2 minutesJeCLEAN, a climate tech startup based on Jeju Island in South Korea, has successfully raised Series A funding from Daedeok Venture Partners (DVP). Established in 2017, JeCLEAN focuses on solving the textile waste problem in the fashion industry by offering eco-friendly care, recycling, supply, and certification services for textile products. The startup began by addressing the environmental issue of approximately 6,600 tons of bedding and clothing waste being mostly incinerated or discarded in Jeju each year. JeCLEAN has since developed an upcycling solution that provides cotton-based materials through ESG partnerships with well-known hotels and resorts, transforming these materials into recycled yarns and fabrics.
Last year, JeCLEAN was selected by the Ministry of SMEs and Startups for the TIPS program to develop an ICT-based platform for tracing, certifying, and rewarding recycled fibers. The company has also forged a strategic alliance with Ilsin Textiles, a leader in the domestic cotton sector, focusing on the development, production, supply, and management of recycled yarn products. This has placed JeCLEAN at the forefront of efforts to promote the sustainable textile industry.
Previously, JeCLEAN received investments from the Jeju Center for Creative Economy Innovation (Jeju CCEI), Korea Credit Guarantee Fund (KODIT), Seoul Techno Holdings, and MYSC. The company has gained recognition for its ongoing research and development of highly functional upcycled products, such as being selected as Korea’s ‘Green Product of the Year’ and receiving the industry’s first ‘Recycled Fiber’ GR certification. These accolades have helped JeCLEAN establish a pioneering ESG business ecosystem and expand its market.
With the latest investment, JeCLEAN plans to accelerate the development of its recycled fiber platform service, which focuses on lifecycle management and reward systems for bedding and fashion products. The company has also begun developing a sustainable clothing recycling business that connects collection, compensation, and recycling of used clothing, with support from the Korea Institute of Design Promotion (KIDP). Moreover, JeCLEAN is actively expanding its operations inland and exploring strategic partnerships to enter the South American market.
Dae-Seok Hoon, CEO of DVP, commented, “Although textile recycling is a relatively new area, it is poised to become a vital technology. We decided to invest in JeCLEAN after carefully analyzing its innovative technology, stable supply chain for raw materials, and strategic partnerships with key industry players like Ilsin Textiles.”
Seung-Soo Cha, CEO of JeCLEAN, expressed his enthusiasm about the new funding, saying, “This investment will further enhance our technological capabilities and the competitiveness of our recycled fiber products, consolidating our leadership in the eco-friendly textile recycling market. We are dedicated to creating a comprehensive system that not only addresses current waste bedding but also future waste clothing, leveraging ICT technology to launch a recycled fiber platform service and leading the innovation in the circular resource textile recycling service market with a variety of domestic and international partners.”
[Korean Greentech Startup News]
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