TômTex raises $4.15M to expand reach of eco-friendly textiles

New York's innovative textile company, TômTex, has successfully secured a seed funding round worth $4.15M. The round was led by Happiness Capital, with additional contributions from Earth Venture Capital, SOSV, Parley for the Oceans, and MIH Capital.

• Founder Spotlight: TômTex was founded by Vietnamese entrepreneur Uyen Tran, with the mission to revolutionize the textile industry by creating alternatives to conventional animal and plastic-based leathers.

• Product Selling Point: The company's unique selling point lies in its innovative use of raw materials. For example, their flagship product, Series WS, is created from discarded seafood shells. Additionally, the company has launched Series M, which is a textile derived from mushroom waste.

• Green Textiles: Through the use of raw chitosan, a sugar derived from the outer skeleton of various shellfish, TômTex has developed a green chemical process to create breathable and durable textiles. This method offers an effective alternative to lab-grown leather, which is often costly and time-consuming to produce.

• Funding Use: With the fresh capital, TômTex plans to expand its Brooklyn-based team, fill essential leadership roles, and boost its in-house and contract manufacturing capabilities.

Uyen Tran, the CEO of TômTex, emphasized that the funding represents more than just scaling opportunities – it’s a strategic move to secure new contracts and revenue, thus solidifying their position in the market.