ID.EIGHT, the Sustainable Florentine Sneakers Raise a 350,000 Euro Round

ID.EIGHT, a Florentine brand that has a collection of ecological and sustainable sneakers in its catalogue, has announced that it has completed an investment round of 350,000 euros thanks to the funds made available by a|impact: this is a VC fund intended to support innovative startups and SMEs with a high social and environmental impact, supported by Avanzi and Etica Egr. 

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What ID.EIGHT does

From simple “sneakers” to an indispensable item of clothing: over 24 billion sneakers are produced by the fashion industry every year, and according to estimates from the World Footwear Yearbook the production of these shoes accounts for a significant 1. 4 percent of total global greenhouse gas emissions. Added to this is the very often use of materials that may not be very sustainable and are rarely the result of a more far-sighted circular economy.

The id.eight sneakers

ID.EIGHT was born in Florence in 2019 precisely to address the issue: its sneakers are assembled with sustainable and cruelty free materials , the models are produced on an ongoing basis (they do not change from season to season) to significantly reduce overproduction with resulting in unsold material, and are also designed to appeal to audiences of all types.

The materials used for their creation range from those obtained by recycling vegetable waste (Uppeal and Vegea from apple and grape peels, Pinatex from pineapple and BioVeg from corn), to organic ones such as cotton, up to recycled technical fabrics such as polyester. The packaging, of course, is also sustainable: made of recycled cardboard, it is “enriched” with seeds so that at the end of its life it can give life to flowers that help keep the ecosystem in balance.

Behind ID.EIGHT are the South Korean designer Dong Seon Lee and the Italian manager Giuliana Borzillo: their startup has already brought home some awards before today’s round, for example a special prize at Pitti Immagine (supported by Vogue and Altaroma), the Green Product Award 2020, and was also selected as part of the CALLforFASHION initiative created by the Murate Idea Park (MIP) incubator in Florence.

The objectives of the round

Expanding the business, opening new markets, testing new materials : these are the objectives that ID.EIGHT aims to achieve thanks to the injection of liquids announced.

“This injection of resources will serve to scale our business and launch new projects, also in terms of research and development: we will have the opportunity to dialogue with companies, test new materials, identify new solutions in terms of eco design, invest in activities to identify even more performing materials from an environmental point of view – the two founders explained in a note – In the near future we will focus in particular on expanding the range of products, on the further internationalization process of our brand, in particular in Germany and Holland and in increasing our production capacity through new synergies.”

Finally, a mention of the company that decided to invest in ID.EIGHT: “We are particularly proud of this round since a partner who shares our same values ​​and our same code of ethics is joining our corporate structure.” The same concepts expressed by Davide Zanoni , head of the Investment Area of ​​a|impact: “The investment in the ID.EIGHT brand strengthens our investment strategy in start-ups committed to radically and intentionally promoting sustainability in the fashion sector . ID.EIGHT shoes have the advantage of being sustainable in the materials used and very original in design, a mix that allows this brand to be positioned among the best examples of innovative companies capable of truly expressing the concept of sustainable fashion.”

The footwear market has always been an important market for Made in Italy: a somewhat similar startup has already enjoyed success in the Bel Paese, ACBC , which won the 2020 edition of B Heroes and had already closed million-dollar rounds.

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(Featured image by Greyerbaby via Pixabay)

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First published in StartupItalia. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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