Id.Eight, a startup that makes sustainable shoes made with materials derived from food industry waste, closes a €350,000 investment round with a|impact – Avanzi Etica, an impact venture capital fund promoted by Avanzi – Sustainability for Actions in collaboration with Etica, a|impact supports the development and growth of innovative SMEs and startups that have the mission of generating social impact, environmental and cultural impact on the community.
Every year, 24 billion sneakers are produced and their production accounts for 1.4% of global greenhouse gas emissions (source: World Footwear Yearbook). Id.Eight was founded in 2019 to offer a sustainable, cruelty-free and genderless alternative to traditional sneakers by focusing on continuous models, season after season, against overproduction.
The choice of materials with which Id.Eight sneakers are made is the result of meticulous research, which has led to the identification of materials with low environmental impact, alternatives to leather, made from the transformation of fruit waste: Uppeal and Vegea, are born from the bio-polymerization of apple peels and pomace sold by Italian companies, Pinatex, made with pineapple leaves and BioVeg from corn.
Sustainability and design
In addition to the bio-based materials, there are technical fabrics in recycled polyester and organic cotton, used on the upper, lining and insole. The packaging is also designed as a tool to have a positive impact on the environment: the box is made of recycled paper and inside there is a “seed bomb”, to contribute to the creation of a biodiversity more favorable to the life of bees.
In just a few years, Id.Eight has managed to conquer a prominent place in the sustainable footwear market, both in Italy and abroad, driven by consumers who are increasingly attentive to their choices and a rapidly growing market that stands at 9.17 billion dollars but will reach 14 billion dollars by 2031 (source: Skyquest).
The two founders of Id.Eight Dong Seon Lee and Giuliana Borzillo say in a note: “We are particularly proud of this round because a partner who shares our same values and code of ethics joins our corporate structure. This injection of resources will serve to scale our business and put new projects on the ground, 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 the identification of materials that are even more performing from an environmental point of view. In the near future, we will focus in particular on expanding our product range, further internationalizing our brand, particularly in Germany and the Netherlands, and increasing our production capacity through new synergies. All this, however, while always remaining faithful to our high standards of quality and sustainability, which we aim to continue to improve.”
“The investment in the Id.Eight brand reinforces our strategy of investing in start-ups committed to radically and intentionally promoting sustainability in the fashion industry. Id.Eight’s shoes have the advantage of being sustainable in the materials used and very original in design, a mix that allows us to position this brand among the best examples of innovative companies capable of truly declining the concept of sustainable fashion,” says Davide Zanoni, head of the investment area of a|impact.
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