InnoGreenTex

History

2024: Attracting 30 million rubles of investments

Russian startup InnoGreenTex has raised a 30 million investment rubles from a "business angel" to launch production of lyocell-based fabric from agricultural plant waste. The company announced this on May 24, 2024.

The InnoGreenTex project offers an environmentally friendly and cost-effective solution for the textile industry to reduce dependence on imports and reduce the environmental footprint of production.

Part of the investment in the amount of 4 million rubles will be directed to research and development of technology, which will allow the first batch of products to be shipped in October 2024. Another 3 million rubles - for the development of technology on contact areas and the first sales. This is the first investment for InnoGreenTex.

Entrepreneurs also plan to launch their own production by the end of 2024, capable of producing up to 10 thousand linear meters of fabric monthly. The founders of the startup intend to spend 23 million rubles on the purchase of equipment for the enterprise. Potential customers include clothing and home textile brands.

We have already received formal letters of interest and agreements of intent from potential customers. Previously, we invested our own funds without serious investment rounds, so attracting 30 million rubles from the "business angel" was our first significant investment success. This opens the door for us to scale production and more actively promote our sustainable technologies on the market, "commented the co-founder of the startup Timofey Perevezentsev.