French startup company EverDye, which claimed to have developed textile dyeing processes that emit fewer carbon emissions than before, said on Tuesday that it had raised 15 million euros ($18 million) in a new funding round.

EverDye's fund-raising round comes as the fashion and textiles industry aims to cut down on its CO2 emissions and find more environment-friendly ways to produce clothes.

The fashion sector counts for around 8% of global greenhouse gas emissions and can also contribute to water pollution.

The fundraising for EverDye, which was founded in 2021 and is headquartered near Paris, was co-led by financial firms Credit Mutuel Innovation and Daphni.

The company says it uses low temperatures and existing machinery for the dyeing process, which reduces the amount of water need

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