Green Theme Technologies (GTT) announced the first close of its Series B funding.
After a successful Series A round, GTT hit its goal of $3.5 million at the first close of Series B. Funds raised will be used to grow its sustainable platform technologies, including the water-free Empel textile finishing process, hire employees and support licensing partners.
“We are pleased with our fundraising performance and will use the Series B funding to further develop and commercialize our platform technologies, including a durable water repellent (DWR) finish and our water-free dye (WFD) product,” said Jordan Clancy, CFO, GTT. “Within the next six months, we will double our headcount in New Mexico, expanding our team to support commercialization, licensees and accelerate revenue growth.”
Investors in the Series B funding round include Phoenix Venture Partners and Safer Made, both have invested in sustainably focused inventions, platforms and companies.
Photo courtesy Green Theme Technologies
