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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
Early VC
Total Funding
$25.1M
Headquarters
Montreal, Canada
Founded
2017
Overview
SRTX Labs develops and manufactures advanced textiles that are durable and smart, catering to clients in fashion, industry, and technology. Their products utilize proprietary knit technology and an integrated Software-as-a-Service (SaaS) platform, creating a connected knitting factory that combines knitting, assembly, and dyeing processes. This unique approach allows SRTX Labs to stand out in the growing smart textiles market, which demands high-performance and sustainable fabrics. The company operates through both direct-to-consumer and business-to-business channels, initially gaining traction by selling durable tights directly to consumers. Their Factory Operating System optimizes manufacturing, enhancing efficiency and reducing waste, which positions SRTX Labs as a leader in sustainable textile production. The goal of SRTX Labs is to meet the increasing demand for innovative textile solutions while promoting sustainable practices in the industry.
Simplify's Take
What believers are saying
- SRTX's focus on sustainable textiles aligns with growing demand for eco-friendly materials.
- The rise of smart wearables presents opportunities for SRTX's smart textile capabilities.
- SRTX Origins incubator supports innovation, potentially leading to groundbreaking material advancements.
What critics are saying
- Leadership transition with founder stepping down may cause strategic instability.
- Financial instability remains a concern despite recent $40 million funding.
- Dependence on external funding poses risks if future investments are not secured.
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 textile industry.
- SRTX's Factory Operating System optimizes manufacturing, enhancing efficiency and reducing waste.
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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%SRTX founder’s comments on fundraising “losing her voice” worth revisiting with her impending departure
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
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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