Cooltrans developer gets $200m boost
Singaporean textile technology provider NTX has raised almost $200 million as part of a series C2 funding round led by Beijing-based private equity firm Centurium Capital, supported by existing shareholder NRL Capital, itself based in Suzhou.
The funds were secured in recognition of NTX’s preferred supplier status for brands including adidas, it said, and will enable the business to cater to the demands of its expanding customer base. NTX’s new Cambodian facility, a joint venture with Hong Kong’s Luenthai under the name Luentech Textiles Solutions, is expected to be completed by mid-August, for example, the company told sportstextiles.
This first-of-its-kind complex has been designed with full consideration for proprietary “waterless” colouration technology Cooltrans, a flagship product by NTX which uses no heat and boasts up to a 90% reduction in water usage, without compromising on hand-feel or performance. Managing director at Centurium Capital, Gary Liu, described Cooltrans as revolutionary in a statement.
“We look forward to a long-term partnership with NTX to make positive contributions to the sustainable development of the global textile supply chain,” Mr Liu added.
“Over the years, we’ve seen Cooltrans mature into a solution that satisfies and exceeds the requirements of some of the most demanding global brands in the marketplace,” commented co-founder and chairman at NTX, Kalvin Chung. “We welcome this latest round of funding and we’re excited about the future. Today [we have] a clear path to scale up NTX into a global supply chain solutions provider.”
