IndigoTex raises Rs 5 crore to commercialise wool textiles
Article image: EntrackrIndigoTex develops waterless wool-finishing technology and wool-based fabrics, including a wool-denim blend. The IIT Delhi-origin startup has raised Rs 5 crore in a round led by IAN Angel Fund, with SIDBI, FITT and IIT Delhi Angels participating, according to Entrackr. It will use the funds to establish manufacturing, expand its sales and operations team and bring its textile products to market.
DTT summary based on Entrackr's report. The full article is on the publisher's site.
Round details
Develops waterless wool-finishing technology and wool-based fabrics, including IndiWool Denim.
- Proceeds support manufacturing, sales and operations, and product commercialization.
- R&D remains at IIT Delhi; finishing facility is in Sonipat.
- Raised: ₹5 Cr
- Investors: IAN Angel Fund, SIDBI, FITT, IIT Delhi Angels
- Use of funds: The proceeds will be used to set up manufacturing, expand its sales and operations team and commercialise its textile products.