Stony Creek Colors, based in Springfield, TN, has raised over $9 million in a Series B financing round.
Founded in 2012, the company produces natural indigo, a plant-based blue dye. The new capital will be used to expand its proprietary indigo-producing crops and processing capabilities.
In 2019, Stony Creek Color was named one of six finalists for Tommy Hilfiger’s Fashion Frontier Challenge, a global program started in 2018 to support entrepreneurs developing positive solutions for the fashion industry.
“Today, the synthetic indigo used in denim relies on petroleum-based processes that leave behind toxic residue on jeans. Stony Creek Color’s plant-made indigo is free of these toxins, providing a healthier and more sustainable solution for coloring denim,” said Sarah Bellos, Stony Creek Colors CEO. “In addition, our indigo-producing crops create a high-value rotation opportunity for farmers, sequester carbon in the soil and reduces the need for nitrogen fertilizers.”
Food- and agriculture-focused investment firm Lewis and Clark AgriFood led the round. Other participants included Innova Ag Innovation Fund and iSelect, and funds that had participated in earlier rounds of financing, including Green Spark Capital and Next Wave Impact. Tim Hassler, Lewis and Clark AgriFood managing director, has joined Stony Creek Color’s board of directors.
Photo courtesy Stoney Creek Colors