H&M Group continued investments in entrepreneurship to contribute to its long-term growth and the future of the industry.
News Article
Nine companies joined H&M Group’s New Growth & Ventures portfolio in 2024
New Growth & Ventures’ mission is to drive and support entrepreneurship, long-term profitable growth, as well as explore more opportunities faster through venture investments, joint-ventures, potential acquisitions and our own own start-ups. The ventures’ portfolio currently holds more than 35 companies, in which H&M Group invested more than 3 billion SEK since 2015.
I am very proud of all the work our whole team put in to identify each of these amazing companies and close the investments. Despite challenging circumstances in the market and around the world, we continue to see the importance in investing in solutions for the future. H&M Group is committed to addressing the opportunities and challenges facing our industry, and we are excited about the journey ahead for the entrepreneurs we are backing.
Nanna Andersen, Chief of New Growth & Ventures
2024 investments
From lab-grown fibres and decarbonisation technology to AI warehouse robotics and more — read about the companies we invested in during 2024.
Syre
Syre, a company that H&M Group co-founded together with Vargas Holding, aims to scale textile-to-textile recycled polyester. This venture reinforces a shift away from virgin polyester and supports circular innovation.
Minority investments within H&M Group Ventures
Avassa is a leading provider of edge application management and operations solutions. Avassa provides an Edge Platform for deploying, monitoring, securing, and operating edge applications in on-site edge and IIoT environments.
Cult Mia is an online fashion marketplace specialising in minority-led, one-of-a-kind collections from the world’s newest independent designers. They encourage small batch production with their retail brands and retail products are made-to-order, minimising waste by working only with demand-led inventories.
GALY uses biotechnology to create lab-grown cotton, a process that uses less water, no land and emits far less greenhouse gas than conventional cotton. And it’s fast — as much as ten times faster than growing cotton on land.
Grey Orange provides AI-driven robotic systems for fulfilment, logistics and retail operations. Their technology allows real-time insight into inventory availability and stock movement, which empowers in-store teams and enriches the customer experience though accurate stock availability and optimised visual merchandising.
Heirloom is a climate technology company dedicated to capturing CO2 from the atmosphere through accelerated carbon mineralisation processes.
MANTLE’s award-winning formulas incorporating innovative and active biomimetic ingredients have rapidly reached cult status among skincare enthusiasts. Named after the skin’s acid, mantle, the brand delivers products designed to strengthen the skin barrier, combat inflammation and deliver maximal results.
Rondo Energy is the leading provider of zero-carbon industrial heat and power. The Rondo Heat Battery harnesses low-cost renewable electricity and delivers the world’s highest temperature, highest efficiency energy storage.
Voyado is a SaaS company helping retail brands create hyper-relevant shopping experiences, increase customer loyalty and drive business growth. H&M Brand has been a customer of the product discovery platform for several years and Voyado is an integrated part of our tech stack.
For more information, visit hmgroupventures.com.
