On May 19, 2021, ALT TEX completed its pre-seed funding round co-led by Garage Capital and Amplify Capital, with participation from Globalive Capital, Panache Ventures, Ramen Ventures, Spacecadet Ventures, and Presstar. Astronaut Chris Hadfield also invested in the round, as did University of Toronto business professor Ajay Agrawal. The financing will be used to increase the company’s bioplastic fibre production to create fabric for clothing brands.
ALT TEX is a Toronto-based sustainable fashion and biotechnology startup focused on developing a polyester replacement fibre for clothing that can be re-engineered from food waste.
Osler, Hoskin & Harcourt LLP advised ALT TEX with a team led by David Jamieson (Emerging and High Growth Companies).