TômTex, the New York-based sustainable biomaterial producer, has recently secured a significant seed funding round of US $ 2.25 million, led by Happiness Capital and supported by strategic partners such as SOSV, Parley for the Oceans, and MIH Capital.
With this round, the company has amassed US $ 4.15 million till now, raising US $ 1.9 million in the previous round. In a release, Uyen Tran, TômTex founder, stated, “I am excited about our recent fundraising success, which will fuel TômTex’s team growth, key hires and expanded manufacturing. Beyond scaling, it’s a strategic step to secure new contracts and revenue, strengthening our market position.”
TômTex made the news with their innovative textile, made from chitosan, a biopolymer found abundantly in seafood shells and mushrooms, used by designers and brands like Peter Do, Di Petsa, Dauphinette and Maitrepierre at New York Fashion Week and Paris Fashion Week.
“These collaborations in high fashion showcase the versatility of TômTex’s material—which can be custom-moulded, stamped, 3D-printed or simply embossed in different animal leather-style patterns,” said the company in a release.
The biodegradable start-up recently achieved a production milestone with 100 linear feet in its initial run. It plans to gear up for larger-scale production, a significant step forward in ‘alternative leather’ manufacturing.
Investors Happiness Capital and Earth Venture Capital expressed enthusiasm for TômTex’s groundbreaking technology and spoke about its potential to revolutionise industries and positively impact the environment in a release.
Vietnam, a significant player in the global shrimp industry, expressed support for TômTex’s philosophy, commenting, “Waste is the new luxury. Now is the time for TômTex to scale. We are committed to this critical stage of the company, driven by a strong belief in the future of sustainable fashion.”
