Asics invests in Spanish textile developer
Japanese sportswear firm Asics has taken a stake in Pyrates Smart Fabrics, a Spanish startup that develops advanced and responsible fabrics, through its Asics Ventures Corporation subsidiary.
Founded by Regina Polanco in 2014, Pyrates has developed a range of eco-friendly knit fabrics that can be used in the fields of sportswear, underwear, Prêt à Porter and athleisure.
They are made from either vegetable, upcycled or biodegradable fibres, and some are certified by Oeko-Tex.
The startup’s innovative approach helped it bag a grant from the European Union’s Horizon2020 research programme, supporting its aim to become a driver of change in the textile industry.
The investment continues Pyrates’ journey with Asics after taking part in the first edition of the Japanese company’s Tenkan-Ten Growth Catalyst incubator in 2018. Pyrates was one of five startups receiving mentoring, financial support and networking opportunities through the specialist programme.
Asics said its is currently planning a capsule collection made from Pyrates fabrics that will launch in early 2020.
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