MAS Holdings has participated in a Series A funding round for Syntetica, a French company developing technology to recycle complex nylon textile waste at industrial scale.
Syntetica, a French deeptech company specialising in textile waste recycling, has secured 30 million dollars in Series A funding with backing from Sri Lanka's MAS Holdings alongside major international investors and apparel brands. The funding round was led by Ecotechnologies 2, a fund managed by French public investment bank Bpifrance on behalf of the French government. Other investors include SWEN Capital Partners, lululemon, EQT Ventures, and family offices connected to Peugeot, Etam and Indorama.
The company has developed a proprietary technology capable of processing both Nylon 6 and Nylon 6,6 from mixed textile waste in a single operation, addressing a significant technical challenge that has long hindered large-scale nylon recycling. Separating different nylon types has been one of the primary barriers to recycling post-consumer textiles, contributing to recycled nylon accounting for only around 2 percent of the global nylon market despite production reaching 7 million tonnes annually in 2024.
Syntetica's approach focuses on post-consumer textiles, which represent approximately 80 percent of textile waste, an area most existing recycling technologies have overlooked in favour of clean production waste. Currently, more than 80 percent of discarded household textiles are incinerated, landfilled or abandoned. The new funding will enable construction of Syntetica's first commercial demonstration facility in France, developed in partnership with Michelin's Centre for Sustainable Materials in Clermont-Ferrand, with capacity to process hundreds of tonnes of waste annually.
The company is already collaborating with major apparel brands including Victoria's Secret and Etam. MAS Holdings' involvement reflects strategic interest in circular material supply chains, with the company's innovation division viewing the investment as significant for the broader industry.
