Swedish recycling startup Syre eyes $700M raise to build Vietnam…

Team S · 2025-11-12T16:52:03.000Z

Swedish textile recycler Syre will seek $500–700 million within a year to fund a new Vietnam plant, leveraging a “bankable” multi-year offtake with Nike for recycled polyester. Backed by investors including TPG Rise Climate, Volvo Cars, IMAS Foundation, Giant Ventures, and Norrsken VC, Syre aims to expand its circular polyester production near major apparel hubs. The Vietnam facility follows a $100 million-financed first U.S. plant in 2024, as the company scales supply to brands like H&M, Gap, Target, and Houdini to accelerate traceable, low-carbon textiles.

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Swedish recycling startup Syre eyes $700M raise to build Vietnam… | Newnex