The investment comes as OceanR is forecasting €5.6 million in revenue this year, more than doubling the company’s 2024 turnover, with a strong sales pipeline across luxury hospitality, corporate, and healthcare sectors. The company, which employs 75 people, is also currently working on B Corporation certification.
“OceanR’s vision is to create a future where businesses and consumers choose sustainability without compromising on quality or design,” said Cotter, the company’s chief executive.
“This investment from BVP is a significant milestone in our journey, allowing us to expand our production, improve efficiencies, and strengthen our relationships with global enterprise clients who are committed to sustainability,” he added.
OceanR, whose clients include Four Seasons and Suzuki, claims its use of recycled materials has helped to remove the equivalent of over 1.5 million plastic bottles from the environment.
Commenting on the investment, Elliot Griffin, managing partner at BVP, said: “OceanR is a standout Irish company that exemplifies innovation and sustainability in the apparel sector. Tom and his team have built a business that not only delivers high-quality, eco-friendly products but also resonates with global brands seeking sustainable solutions.”
“We see significant potential for growth as the company continues to scale internationally,” he added.
OceanR is one of a number of companies to have secured backing from BVP of late. Others include Novus Diagnostics, which last week announced a €4.6 million raise to accelerate the development of its rapid point-of-care sepsis diagnostic technology. It also recently led a €1.5 million investment in Advise, a tech company that trades as RecommenderX.
https://www.businesspost.ie/news/sustainable-apparel-brand-oceanr-secures-e1m-investment-for-global-expansion/