Virescent Ventures has invested in Xefco, a Geelong-based start-up offering revolutionary textile dyeing technology that drastically reduces water, energy, and chemical usage.
Information on the Target
Xefco is an innovative start-up based in Geelong that has developed a groundbreaking technology for dyeing and finishing textiles, significantly reducing resource consumption. The company's technology utilizes 99% less water, 90% less energy, and 97% fewer chemicals than traditional methods, addressing critical environmental challenges within the textile industry.
Founded in 2018 by Tom Hussey and Brian Conolly, Xefco operates from Deakin University's ManuFutures hub. The technology they developed, known as Ausora, transforms the textile dyeing process, moving from conventional batch processes to a more efficient continuous technique, paving the way for sustainability in a sector known for its high pollution levels.
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Industry Overview in Australia
The textile industry is recognized globally as a major environmental pollutant, with significant greenhouse gas emissions surpassing those from the aviation and shipping sectors combin
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Virescent Ventures
invested in
Xefco
in 2024
in a Seed Stage deal
Disclosed details
Transaction Size: $11M