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Published on Tuesday, 23 June 2015

VC backing for US plastic recycler

Written by John Mowbray
plastic bottles

PITTSBURGH – A US business which collects plastic from low income countries such as Haiti and Honduras to turn into textiles has closed a US $2.8 million round of venture capital funding. The company says the financing will be used to expand production capabilities, while growing data and content collection throughout its supply chain. Investors in the round include Draper Triangle, Riverfront Ventures, DNS Capital and Bill Besselman of Under Armour.