The textile technology company NTX, based in Singapore and Shanghai, has completed the funding of nearly $200 million in a C2 financing round led by Centurium Capital, with additional contributions from existing shareholder NRL Capital. Index Capital served as the exclusive financial advisor. According to a company release, the funding was secured after the company became a preferred supplier to global international brands such as Adidas and will be invested in operational needs to meet the rising demand of the expanding NTX customer base.
One of the main technologies the NTX growth is based on is the waterless coloration technology NTX Cooltrans, a dyeing and printing technology that saves up to 90 percent of water in the process. The company has established a Southeast Asia-based ecosystem of textile processing plants, aiming to become an eco-friendly supply chain partner for global apparel brands. NTX notes that in light of global green initiatives that will require the industry to dramatically accelerate its measurable sustainability efforts, funding and expansion of NTX services are particularly critical.
NTX’s most recent joint venture with Cambodian company Luen Thai under the name Luentech Textiles Solutions (LTS) has already resulted in a new NTX Cooltrans facility to expand production capacity and satisfy the demand for green textile supply chain partners. The facility is the first of its kind to be designed entirely around the newest iteration of its waterless coloration technology. The lower water consumption of NTX Cooltrans technology allows these units to operate in environments where water is scarce.
