About ALT TEX
ALT TEX is a company based in Brampton (Canada) founded in 2020 by Myra Arshad. ALT TEX has raised $1.37 million across 3 funding rounds from investors including Globalive Capital, Y Combinator and Sustainable Development Technology Canada. ALT TEX offers products and services including Food-to-Fabric Technology and Bioplastic Fiber. ALT TEX operates in a competitive market with competitors including Renewcell, Lenzing, Genomatica, Spiber and Claros Technologies, among others.
- Headquarter Brampton, Canada
- Founders Myra Arshad
- SectorsRetailEnvironment Chemicals & Materials
- Email••••••••
- Website thealttex.com
- Social LinkedIn X Instagram
- Total Equity Funding$1.37M (USD)
in 3 rounds
- Latest Funding Round$125K (USD), Seed
Sep 2022
- InvestorsGlobalive Capital
& 10 more
Products & Services of ALT TEX
ALT TEX offers a comprehensive portfolio of products and services, including Food-to-Fabric Technology and Bioplastic Fiber.
Converts food waste into biodegradable fibers for textiles applications
Produces durable, eco-friendly fabric alternatives to polyester
Funding Insights of ALT TEX
ALT TEX has successfully raised a total of $1.37M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $125 thousand completed in September 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.37M
- Total Rounds 3
- Last Round Seed — $125,000
- First Round $1.25M
(May 2021)
- Investors Count 11
All 3 funding rounds of ALT TEX with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2022 | $125,000 | Seed | – | Y Combinator | – |
| Dec 2021 | $100,000 | Grant | – | – | |
| May 2021 | $1.25M | Seed | – | Garage Capital, Amplify Capital |
11 investors in total: 9 institutional and 2 angel.
Investors in ALT TEX
ALT TEX has secured backing from 11 investors, including venture fund and angel investors. Prominent investors backing the company include Globalive Capital, Y Combinator and Sustainable Development Technology Canada.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage startups are accelerated via funding and educational programs. | – | ycombinator.com | Mountain View, United States | |
Venture capital firm focused on investing in clean tech sectors | – | sdtc.ca | Ottawa, Canada | |
Seed-stage investments are made by Garage Capital across multiple sectors. | – | garage.vc | Kitchener, Canada | |
Amplify Capital is focused on impact-driven investments. | 2016 | amplifycapital.ca | Toronto, Canada | |
Venture capital is provided to Canadian tech and offline companies. | 1998 | globalive.com | Toronto, Canada | |
Venture capital firm focused on multiple sectors | – | panache.vc | Montreal, Canada | |
Investments are made in pre-seed tech startups by Ramen Ventures. | – | ramen.vc | Toronto, Canada | |
Impact investing is conducted across the textile value chain. | – | presstar.com | Singapore, Singapore | |
Spacecadet is engaged in venture capital and marketing support. | – | spacecadet.ventures | - | |
CH Chris Hadfield | - | – | unknown_36f71f4fff81457ab | - |
Investor details for ALT TEX
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of ALT TEX
6 people are tracked at ALT TEX (3 in leadership, 3 in team).
| Name | Role | Group |
|---|---|---|
Myra Arshad | Founder & CEO | Leadership |
Avneet Ghotra | Co-Founder | Leadership |
Ethan Porter | Head Of Engineering | Leadership |
Shreya Nagavalli | Bioprocess Scientist | Team |
Esha Kulkarni | Digital Designer | Team |
Oliver Wang | Senior Polymer Scientist | Team |
Complete people profiles for ALT TEX
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of ALT TEX
3 dated milestones of ALT TEX across 2 years, from founding to its latest funding, stage changes and deals.
- Founded ALT TEX is founded.
- Funding First funding round of $1.2M.
- Funding Latest funding round, Seed, of $125K.
Competitors of ALT TEX
ALT TEX operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Renewcell, Lenzing, Genomatica, Spiber and Claros Technologies, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| renewcell.com | 2012 | Stockholm, Sweden | $10.99M | 139 | Biodegradable fibres are produced from recycled cellulosic materials. | |
| lenzing.com | 1939 | Lenzing, Austria | – | – | Wood-based sustainable fabrics are developed and provided by Lenzing. | |
| genomatica.com | 1998 | San Diego, United States | $335.62M | 159 | Plant-based nylon materials and renewable chemicals are manufactured from feedstocks. | |
| spiber.inc | 2007 | Tsuruoka, Japan | $489.35M | – | Sustainable fabric materials are developed via microbial fermentation processes. | |
| clarostechnologies.com | 2015 | Saint Paul, United States | $57.7M | – | Provider of sustainable solutions for circular economy | |
| bio-fluff.com | 2021 | Milan, Italy | $3.63M | – | Provider of plant based fur | |
| ambercycle.com | 2013 | Los Angeles, United States | $26.6M | 7 | Tech-based solutions are provided for yarns from textile waste. | |
| evrnu.com | 2014 | Seattle, United States | $29.36M | – | Sustainable fabrics are produced from recycled textiles using regenerative fibers. | |
| xefco.com | 2018 | Sydney, Australia | $10.5M | – | Provider of technologies for textile manufacturing | |
| srtxlabs.com | 2017 | Montreal, Canada | $89.79M | 49 | Internet-first platform for durable, high-performance tights is offered. |
Detailed competitors of ALT TEX
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Latest news on Alt Tex
Complete news archive for ALT TEX
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Similar companies to ALT TEX
10 companies that operate in the same segment as ALT TEX (Fashion & Lifestyle E-Commerce), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Eyewear is offered online for men, women, and kids. | 2010 | Gurugram, Haryana, India | USD 1.08 B | USD 939.4 M | – | |
Fashion and lifestyle products are offered via an online marketplace. | 2007 | Bengaluru, Karnataka, India | USD 123.71 M | USD 542.17 M | 1,108 | |
Gold and silver jewellery, lab-grown diamonds, and accessories are retailed. | 2019 | Bengaluru, Karnataka, India | USD 142.34 M | USD 32.66 M | 711 | |
Photo editing and sharing apps are developed by Meitu. | 2008 | Xiamen, Fujian, China | USD 525 M | USD 536.99 M | 2,420 | |
Subscription-based jewelry is provided by digital-first brand BlueStone. | 2011 | Bengaluru, Karnataka, India | USD 254.97 M | USD 259.64 M | 3,210 | |
Men's fashion apparel is offered online by Bonobos. | 2007 | New York, New York, United States | USD 127.67 M | – | – | |
Metabolic health is tracked via devices and fitness platforms. | 2019 | Bengaluru, Karnataka, India | USD 163.28 M | USD 65.48 M | 274 | |
Pre-owned fashion products are sold via an online marketplace. | 2008 | Vilnius, Lithuania | USD 872.04 M | – | – | |
Online rental platform offering multi-category fashion products and accessories | 2009 | New York, New York, United States | USD 326.35 M | USD 306.2 M | 850 | |
Customizable smart lock screen experiences are developed for mobile devices. | 2019 | Bengaluru, Karnataka, India | USD 390 M | – | – |
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Frequently Asked Questions about ALT TEX
ALT TEX was founded in 2020 and raised its 1st funding round 1 year after it was founded.
ALT TEX is headquartered in Brampton, Canada. It is registered at Brampton, Ontario, Canada.
Myra Arshad is the current CEO of ALT TEX. They have also founded this company.
ALT TEX is a funded company, having raised a total of $1.37M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1.25M, raised on May 2021.
ALT TEX was founded in 2020 in Brampton, Canada, within the sustainable materials sector. Food waste is collected from various processors and transformed into biodegradable, carbon-neutral textiles. Solutions are offered to enable this conversion, supporting circular economy practices in textile production. Operations focus on waste management and material innovation for environmental sustainability.
ALT TEX's top competitors include Lenzing, Genomatica and SRTX.
ALT TEX offers Food-to-Fabric Technology and Bioplastic Fiber.
ALT TEX has 11 investors. Key investors include Globalive Capital, Y Combinator, Sustainable Development Technology Canada, Garage Capital, and Amplify Capital.