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
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Sectors
RetailEnvironment Chemicals & Materials
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Email
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Phone
*********
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$1.37 M (USD)
in 3 rounds
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Latest Funding Round
$125 K (USD), Seed
Sep 07, 2022
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Investors
Globalive Capital
& 10 more
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Employee Count
Employee Count
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Products & Services of ALT TEX
ALT TEX offers a comprehensive portfolio of products and services, including Food-to-Fabric Technology and Bioplastic Fiber. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Converts food waste into biodegradable fibers for textiles applications
Produces durable, eco-friendly fabric alternatives to polyester
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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 Total Funding
- Total Rounds 3
- Last Round Seed — $125,000
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First Round
First Round
(19 May 2021)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2022 | Amount | Seed - ALT TEX | Valuation | Y Combinator |
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| Dec, 2021 | Amount | Grant - ALT TEX | Valuation |
investors |
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| May, 2021 | Amount | Seed - ALT TEX | Valuation | Garage Capital , Amplify Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location | |
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Venture capital firm focused on investing in clean tech sectors
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Founded Year | Domain | Location | |
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Seed-stage investments are made by Garage Capital across multiple sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by ALT TEX
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - ALT TEX
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Alt Tex Comparisons
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Biodegradable fibres are produced from recycled cellulosic materials.
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| domain | founded_year | HQ Location |
Wood-based sustainable fabrics are developed and provided by Lenzing.
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| domain | founded_year | HQ Location |
Plant-based nylon materials and renewable chemicals are manufactured from feedstocks.
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| domain | founded_year | HQ Location |
Sustainable fabric materials are developed via microbial fermentation processes.
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| domain | founded_year | HQ Location |
Provider of sustainable solutions for circular economy
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| domain | founded_year | HQ Location |
Provider of plant based fur
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Alt Tex
Frequently Asked Questions about ALT TEX
When was ALT TEX founded?
ALT TEX was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Where is ALT TEX located?
ALT TEX is headquartered in Brampton, Canada. It is registered at Brampton, Ontario, Canada.
Who is the current CEO of ALT TEX?
Myra Arshad is the current CEO of ALT TEX. They have also founded this company.
Is ALT TEX a funded 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 19, 2021.
What does ALT TEX do?
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.
Who are the top competitors of ALT TEX?
ALT TEX's top competitors include Lenzing, Genomatica and SRTX.
What products or services does ALT TEX offer?
ALT TEX offers Food-to-Fabric Technology and Bioplastic Fiber.
Who are ALT TEX's investors?
ALT TEX has 11 investors. Key investors include Globalive Capital, Y Combinator, Sustainable Development Technology Canada, Garage Capital, and Amplify Capital.