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eBay invests $300k in Refiberd to drive circular fashion solutions
EBAYeBay(EBAY) Prnewswire·2025-04-09 14:00

Core Insights - eBay is investing USD300,000intoRefiberdaspartofitsCircularFashionFundprogramtosupportfashionstartupsinscalingcircularsolutions[1][2][3]Group1:InvestmentandAwards−RefiberdwasawardedeBay′sCircularFashionInnovatoroftheYearAward,recognizingitscontributionstoamorecircularfashionindustry[2][9]−TheCircularFashionFundhassupported27businessessinceitslaunchin2022andwillhaveinvestedatotalofUSD300,000 into Refiberd as part of its Circular Fashion Fund program to support fashion startups in scaling circular solutions [1][2][3] Group 1: Investment and Awards - Refiberd was awarded eBay's Circular Fashion Innovator of the Year Award, recognizing its contributions to a more circular fashion industry [2][9] - The Circular Fashion Fund has supported 27 businesses since its launch in 2022 and will have invested a total of USD1.2 million by the end of 2025 [4][7] Group 2: Technology and Impact - The funding will enhance Refiberd's AI technology, which accurately identifies fabric compositions for better sorting and recycling [3][6] - Refiberd aims to address the textile waste-sorting issue and promote true circularity in fashion through its innovative recycling solutions [3][6] Group 3: Industry Context - The demand for circular fashion is increasing, with 66% of Gen Z indicating that purchasing pre-loved fashion is becoming more important to them [5] - eBay has been a pioneer in recommerce for 30 years, and its Circular Fashion Fund is a strategic initiative to drive sustainability in the fashion industry [5][6]