Inditex, Owner of Fashion House Zara, Invests in GALY’s Cultivated Cotton from Plant Cells
Spanish multinational clothing company Inditex, owner of Zara and Massimo Dutti, among other fashion brands, has announced a minority stake investment (the sum has not been disclosed) in GALY, a Brazilian and US biotech producing cultivated cotton from plant cells. GALY was founded in 2019 by Luciano Bueno, a former Deloitte executive. The startup has raised over $33.5 million from notable investors such as Sam Altman, former president of Y Combinator and current CEO of OpenAI, John Doerr from VC Kleiner Perkins, and investment funds such as Material Impact, Agronomics, and Brinc. According to Reuters, Inditex CEO Oscar Garcia Maceiras says the move aligns with the company’s goal of using 25% new-generation materials by 2030. Inditex has already invested in the sustainable material companies Findland’s Infinite …