The investment was led by One Small Planet, with significant participation from AP Ventures plus support from Overlay Capital and Lichen Ventures. Existing investors At One Ventures, who led Ravel's pre-seed round, along with Collateral Good and Betterway Ventures, also provided follow-on participation, among others. The new capital will accelerate Ravel's path to commercial readiness and work towards its mission to disrupt material recovery in the fashion industry.

Ravel is a textile-to-textile recycling company specializing in Purification Recycling™ based in Seattle, Washington. Ravel transforms complex blended fiber waste into high-purity raw materials that achieve price parity with existing textile materials. By closing the loop on post-industrial and post-consumer waste, Ravel is building the infrastructure necessary for a truly circular fashion economy.