AlgiKnit, a materials innovator creating eco-conscious yarns from kelp, announced $13 million in Series A funding to lower the textile industry's environmental impact by accelerating its journey to scale.

The round was led by Collaborative Fund and joined by H&M CO:LAB, the investment arm of H&M Group, Starlight Ventures, Third Nature Ventures, and features ongoing support from previous investors Horizons Ventures and SOSV.