Sri Lankan apparel manufacturer MAS Holdings has participated in a Series A funding round for Syntetica, a French company that has developed technology to recycle complex nylon waste from textiles at industrial scale.
Syntetica, a French deeptech company specializing in textile waste recycling, has secured $30 million in Series A funding with backing from major international investors and apparel brands. MAS Holdings, a prominent Sri Lankan manufacturer, joined the investment round alongside fashion brands lululemon and Etam, as well as venture capital firms including EQT Ventures and SWEN Capital Partners. The funding was led by Ecotechnologies 2, a fund managed by French public investment bank Bpifrance on behalf of the French government.
The company has developed a proprietary process capable of recycling both Nylon 6 and Nylon 6,6 from mixed textile waste through a single procedure, addressing a longstanding technical barrier in the industry. Identifying and separating different nylon types has historically prevented large-scale recycling of post-consumer nylon. According to industry data cited in the announcement, recycled nylon currently represents only around 2% of the global nylon market, despite nylon production reaching approximately 7 million tonnes annually.
Syntetica's approach focuses on post-consumer textiles, which account for roughly 80% of textile waste. The company noted that more than 80% of discarded household textiles are currently incinerated, landfilled, or abandoned, highlighting the scale of the untapped opportunity. The technology has already attracted interest from major apparel companies including Victoria's Secret and Etam.
The funding will support construction of Syntetica's first commercial demonstration facility in France, developed in partnership with Michelin's Centre for Sustainable Materials. The facility aims to process hundreds of tonnes of textile waste annually, scaling the technology from laboratory conditions to industrial production. According to company statements, the investment represents a strategic opportunity to build new industrial supply chains within Europe while reducing dependence on imported fossil-derived resources.
