Series A · Circular Economy · Stockholm, Sweden · Founded 2023 · 11–50 employees
Syre is revolutionizing the textile industry through hyperscale textile-to-textile recycling technology. Founded by H&M Group and Vargas Holding in 2023, the company transforms post-consumer textile waste into circular polyester with quality matching virgin polyester but with 85% lower CO2 emissions. They raised $100 million in Series A funding just two months after launch, led by TPG Rise Climate. The company has acquired proprietary technology from US-based Premirr and is building gigascale recycling plants in Vietnam and Iberia, with commercial production starting in 2026.