Waterless wool finishing technology startup IndigoTex raises Rs 5 crore from IAN Angel Fund

Deeptech textile startup IndigoTex has raised Rs 5 crore in a funding round led by IAN Angel Fund, the evergreen fund of IAN Group. The round also saw participation from SIDBI, FITT, and IIT Delhi Angels.

The startup said the latest funding will be deployed towards manufacturing and factory setup, expansion of the sales and operations team, commercialisation of IndiWool Denim and washable wool/poly-wool fabrics, further R&D and product development, certifications required for domestic and international markets as well as build for scale.

Founded in 2024 by Satendra Singh, Prof. B.S. Butola, and Dilip Singh (Co-founders), IndigoTex is building a deeptech foundation for textile manufacturing in India, with a focus on export-oriented, high-value textile products and technologies.

Its portfolio spans innovative wool and technical textiles, as well as sustainable manufacturing solutions designed to address real-world challenges across comfort, performance and textile processing.

IndigoTex claims that IndiWool Denim combines the durability and versatility associated with denim with the thermal and comfort properties of wool. The startup has developed variants ranging from low-wool-content fabrics designed for all-weather applications to wool-rich variants aimed at colder climates. It have signed NDAs with Ralpha Lauren and Kering Group, France and are in active discussions with premium and luxury brands, garment manufacturers, fabric exporters and sourcing houses.

Beyond wool denim, IndigoTex is developing ECOTEX Wool, a technology that enables washable wool and poly/wool fabrics, addressing the conventional dependence on dry cleaning for wool garments, finishing setup at its manufacturing facility in Rai Industrial Area, Sonipat, Haryana.

The startup said that the facility will help scale-up of its waterless wool finishing technology and commercial production of washable wool and poly/wool fabrics. While its R&D operations will continue to be based at the Research and Innovation Park at IIT Delhi.

Notably, it is beginning to build an international market presence, with engagements across Europe and other cold-climate markets including Australia. IndigoTex has initiated discussions and collaborations across France, Russia and Denmark, and plans to deepen its presence across Europe, North America, Australia and other cold-climate markets.

Satendra Singh, Co-founder & CEO, IndigoTex, said, “We would like to sincerely thank each and every investor who participated in this investment round and placed their trust in Indigotex. This investment marks an important milestone in our journey as we build a deep-tech textile company from India for global markets. As we move forward, integrity, sustainable growth, a customer-centric approach, and the responsible deployment of capital will remain at the core of our decisions. We are committed to using this support to strengthen our R&D, scale our innovative textile technologies, expand into technical textiles, and create products that solve real-world problems.”