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SRTX
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Develops advanced smart textiles and manufacturing technology
SRTX
Work Here?
Develops advanced smart textiles and manufacturing technology
About SRTX
Industries
Industrial & Manufacturing
Enterprise Software
Design
Company Size
51-200
Company Stage
Seed
Total Funding
$24.4M
Headquarters
Montreal, Canada
Founded
2017
Overview
SRTX Labs develops and manufactures advanced textiles that are durable and smart, primarily serving clients in the fashion, industrial, and tech sectors. The company utilizes proprietary knit technology and an integrated Software-as-a-Service (SaaS) platform to operate the world's only connected knitting factory, which combines knitting, assembly, and dyeing processes. SRTX Labs initially focused on direct-to-consumer sales of high-quality tights to build market demand, and now also engages in business-to-business sales, licensing its technology to other manufacturers. Its Factory Operating System optimizes manufacturing from raw materials to finished products, enhancing efficiency and sustainability. The goal of SRTX Labs is to lead the textile industry in smart textiles and sustainable practices, meeting the growing demand for high-performance fabrics.
Simplify's Take
What believers are saying
- SRTX secured $25M investment to expand manufacturing and R&D capabilities in 2023.
- The global smart textiles market is projected to grow at a CAGR of 30.4% until 2030.
- Increased interest in sustainable fashion aligns with SRTX's focus on eco-friendly textiles.
What critics are saying
- Increased competition from emerging smart textile startups could erode SRTX's market share.
- Potential supply chain vulnerabilities due to geopolitical tensions may impact raw material availability.
- Reliance on a single large facility in Montreal poses operational risks if disruptions occur.
What makes SRTX unique
- SRTX Labs offers the world's only connected knitting factory with integrated processes.
- The company's proprietary knit technology sets it apart in the smart textiles market.
- SRTX's Factory Operating System optimizes manufacturing, enhancing efficiency and reducing waste.
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Funding
Total Funding
$24.4M
Above
Industry Average
Funded Over
2 Rounds
Y CombinatorGrowth & Insights and Company News
6 month growth
↑ 0%1 year growth
↓ -2%2 year growth
↓ -4%SRTX founder explains how solving for one problem led to modernizing Western manufacturing
MONTREAL, Dec. 18, 2024 /PRNewswire/ - SRTX, a leader in material innovation and manufacturing, announced the launch of SRTX Origins, a first-of-its-kind incubator program designed to empower material startups with the tools and resources they need to succeed. SRTX Origins will provide groundbreaking startups with tailored support—including pre-paid purchase orders, manufacturing resources, or expert collaboration—based on their individual needs to reach the next stage of their growth and innovation
Montréal-based SRTX, the maker of Sheertex "unbreakable" tights, has secured $25 million USD ($35 million CAD) in convertible debt from the Québec government's investment arm to scale its wholesale manufacturing operations in the province.
SRTX has secured a $25 million USD investment from Investissement Québec to enhance its growth and bolster local manufacturing. This funding will aid in expanding SRTX's manufacturing capacity and R&D capabilities. In 2023, SRTX opened a 300,000-square-foot facility in Pointe Claire, Montreal, featuring a highly automated, vertically integrated plant. This facility converts UHMWPE powder into finished products, supporting SRTX's market leadership and cost reduction efforts.
The SRTX founder wants more companies to tackle big challenges
There are no jobs for SRTX right now.
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About SRTX
Industries
Industrial & Manufacturing
Enterprise Software
Design
Company Size
51-200
Company Stage
Seed
Total Funding
$24.4M
Headquarters
Montreal, Canada
Founded
2017
There are no jobs for SRTX right now.
Find jobs on Simplify and start your career today