Yes, this is a great company who have received a number of grants and funds already, this was from January this year,
' The European Union is a leader in funding technologies that enable our transition to a green economy. After nearly three years of funding and partnership, we are pleased to have proven what we set out to demonstrate: that the apparel and fashion industries can colour textiles through an environmentally low-impact method inspired by nature.... In the final months of the grant period last year, Colorifix closed an 18million series B fund-raising led by H & M CO:LAB the venture capital arm of the global retailer. The company is preparing for significant commercial scale-up in 2023 after developing partnerships with sustainable clothing brands including Pangaea'
So they are already in their growth stage and upscaling without the 1 million William is offering ( which seems teeny in comparison to figures above ) I have a couple of friends in the ethical fashion industry, so this is a great initiative, but William is a bit late to the party.
https://colorifix.com/colorifix-positioned-for-growth-after-completion-of-multi-year-eu-innovation-grant/