French recycling startup Recyc’ELIT raises a €3.2M Seed round to address the challenges of recycling polyester-based textiles with its patented process

 Recyc’ELIT is a startup that recycles all types of complex textiles and plastics. Here are details of Recyc’ELIT‘s latest funding round :

🚀 Launch


🏭 Industry



Karim Medimagh (Co-founders), Raouf Medimagh (Co-founders)

💸 Funding & Investors

INVESTMENT (October 2023)€3.2 million (Seed)
INVESTORS (October 2023)Demeter led the investment through the Metropolitan Industrial Seed Fund (FAIM) Lyon – Saint-Etienne and UI Investissement. Banque des Territoires (Caisse des Dépôts Group), Crédit Agricole Création, and undisclosed business angels also participated in the funding round.

🎯 Funding purpose

Operations expansion

🌐 Country HQ

France (Chasse sur Rhône)

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