Retold Recycling – a convenient and sustainable textile recycling start-up – has received a $300,000 deal in exchange for a 25% stake in their company from famed Shark, Mark Cuban.
Retold Recycling empowers consumers by making it easy and convenient to responsibly dispose of clothing and other fabrics, diverting that waste from landfill. Customers can purchase ready-to-ship Retold bags to fill with any unwanted household textiles, eliminating the burden of determining the best recycling solution for each submission. Items are sorted and given a second life. They are sent on to thrift stores, rag companies, down cyclers and soon, circular fiber producers. Since its 2020 launch, Retold Recycling has diverted over 100,000 pounds (50 tons) of fabric waste from landfill.
Retold founders Amelia Trumble and Alan Yeoh stood before the Sharks on the renowned TV show to deliver their pitch, explaining their ‘#NoLandfill’ vision and how the brand is tackling the major issue of textile waste with this first and only solution of its kind. Cuban saw the opportunity for the business to scale into retail and to truly own the category that Retold has innovated.
Amelia Trumble, Founder, and CEO of Retold Recycling shares: “Despite plenty of drama in the Tank, Mark seemed to be able to cut through the noise and immediately understood our vision and how we could scale. His past history of betting on solutions that help society at large meant that we knew he was the perfect Shark for us!”
Retold is planning to develop new recycling solutions, expand into retail partners, continue to upgrade its technology, and add to its growing list of brand partners which have included Jenni Kayne, Verizon, Boody, and Vitamin A Swim.