Series B rounds help businesses to scale up their technologies; GTT will use the money to grow its platforms, hire employees and support licensing partners.

Its Empel process uses thermal curing to create a molecular covalent bond between monomers and the fibres in fabrics treated with its “Clean Chemistry”. When exposed to heat, a molecular bonding and polymerisation occurs. 

Jordan Clancy, chief financial officer at GTT, said: “We are pleased with our fundraising performance and will use the Series B funding to develop and commercialise our platform technologies, including a DWR finish and our water-free dye product.

"Within the next six months we will double our headcount in New Mexico, expanding our team to support commercialisation, licensees and accelerate revenue growth.”