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About SRTX
Industries
Industrial & Manufacturing
Enterprise Software
Design
Company Size
51-200
Company Stage
Early VC
Total Funding
$25.1M
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. Their products utilize proprietary knit technology and an integrated Software-as-a-Service (SaaS) platform, which enables them to operate the only connected knitting factory that combines knitting, assembly, and dyeing processes in one location. This unique setup allows SRTX Labs to optimize manufacturing operations, enhancing efficiency and reducing waste while producing high-quality, sustainable fabrics. The company initially targeted consumers with high-quality tights through a direct-to-consumer model, which helped them scale and compete against traditional materials like nylon. Now, they also generate revenue through business-to-business sales and by licensing their technology. SRTX Labs aims to lead the textile industry by meeting the growing demand for smart textiles and high-performance fabrics.
Simplify's Take
What believers are saying
- SRTX secured $40M to avoid insolvency, ensuring short-term financial stability.
- Launch of SRTX Origins incubator supports sustainable innovation and startup growth.
- $25M investment from Investissement Québec boosts manufacturing and R&D capabilities.
What critics are saying
- Leadership transition as founder Katherine Homuth steps down as CEO.
- Potential insolvency risk despite recent funding efforts.
- Dependence on government funding may not be sustainable long-term.
What makes SRTX unique
- SRTX Labs offers the world's only connected knitting factory with integrated processes.
- Proprietary knit technology and SaaS platform set SRTX apart in smart textiles.
- SRTX's Factory Operating System optimizes manufacturing, enhancing efficiency and sustainability.
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Funding
Total Funding
$25.1M
Above
Industry Average
Funded Over
2 Rounds
Y CombinatorGrowth & Insights and Company News
6 month growth
↑ 2%1 year growth
↑ 4%2 year growth
↑ 0%Montreal textiles manufacturing company SRTX has raised roughly US$40 million from key investors in a deal that would see founder Katherine Homuth step down as CEO, The Logic has learned, as the company works to stave off an insolvency that some expect could otherwise come as soon as next month.
Montreal-based SRTX has secured approximately $40 million from key investors in a deal that involves founder Katherine Homuth stepping down as CEO. This move is part of the company's efforts to avoid potential insolvency, which some anticipate could occur as early as next month.
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.
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About SRTX
Industries
Industrial & Manufacturing
Enterprise Software
Design
Company Size
51-200
Company Stage
Early VC
Total Funding
$25.1M
Headquarters
Montreal, Canada
Founded
2017
There are no jobs for SRTX right now.
Find jobs on Simplify and start your career today
People Also Viewed
Discover companies similar to SRTX