Investment of €7 million by Impact Bridge in eco-friendly clothing company
In a move towards a greener and more socially responsible future, Impact Bridge, Rival Foods, and Start Foundation have recently made significant investments in sustainable fashion, plant-based meat alternatives, and social enterprises.
Impact Bridge, through its fund IB Deuda Impacto España, has invested €7 million in Ecoalf, a pioneering sustainable fashion brand. Ecoalf, founded in 2009, has developed over 600 recycled fabrics from various waste materials, saving more than 54 billion liters of water and reducing CO2 emissions by 12,500 tonnes while restoring 50,000m2 of land. The investment aims to bolster Ecoalf's leadership in sustainable fashion and support its growth, both domestically and internationally.
Impact Bridge's previous investments include Formació i Treball, part of Moda re-, which is involved in textile recycling and employs socially marginalized people.
Rival Foods, a company specializing in plant-based meat alternatives, raised €10 million in a series B funding round. The funds will be used to scale up production, create 55 jobs over the next three years, and train 90 people for employment in the meat industry or elsewhere. Rival Foods' products closely mimic the structure, flavour, and mouthfeel of animal-derived meat cuts while being plant-based, clean label, and minimally processed.
The round was led by APG, with other investors including Pymwimic, ROM Utrecht Region, and PeakBridge. Rival Foods was founded in 2019 and has developed a proprietary platform for producing whole-cut plant-based meat alternatives.
Meanwhile, the Start Foundation has invested €750,000 in Roetz Bikes, a social enterprise based in Amsterdam. Roetz Bikes manufactures new bikes by re-working parts and materials from discarded bikes, including bicycle frames. The investment will be used to increase production and create jobs in the bicycle industry.
In addition to these investments, Impact Bridge and Ecoalf have signed two impact covenants to improve social and environmental impact. The covenants include a progressive move towards an even greater mix of sustainable fibres in Ecoalf's garment collections. Around 70% of Ecoalf's collections today are made from a single material to reduce textile waste.
These investments highlight the growing interest in sustainable and socially impactful ventures across various sectors, with European states calling for Multilateral Development Banks (MDBs) to scale up investment vehicles. The investments made by Impact Bridge, Rival Foods, and Start Foundation are part of this global shift towards a more sustainable and inclusive future.
[1] https://www.ecoalf.com/ [2] https://www.impactbridge.com/ [3] https://www.startfoundation.nl/ [4] https://www.rivalfoods.com/ [5] https://www.roetzbikes.com/
- Venture capital, akin to APG's investment in Rival Foods, is strategic for companies like Ecoalf as well, as Impact Bridge's €7 million investment to bolster Ecoalf's sustainable fashion leadership demonstrates.
- Development finance, such as the €750,000 invested by Start Foundation in Roetz Bikes, plays a crucial role in the sports industry too, as Roetz Bikes' bike manufacturing using refurbished parts creates jobs in the bicycle sector.
