IAN Angel Fund leads ₹5 crore in IIT Delhi-originated deep-tech textile startup IndigoTex
IAN Angel Fund, the evergreen fund of IAN Group, has led a ₹5 crore funding round in IndigoTex, India’s first waterless wool finishing technology startup commercialising wool and wool blended denim and other fabrics, with participation from SIDBI, FITT, and IIT Delhi Angels. 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 & international markets as well as build for scale.
IndiWool™ Denim combines the durability and versatility associated with denim with the thermal and comfort properties of wool. The company has developed variants ranging from low-wool-content fabrics designed for all-weather applications to wool-rich variants aimed at colder climates. They 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 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.
Founded in 2024 by Satendra Singh, Prof. B.S. Butola, and Dilip Singh (Co-founders), IndigoTex is building a deep-tech 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 was one of the 120 startups selected for Bharat Innovates 2026, in Nice, France, as also at the BRICS Summit 2026.
The company is already beginning to build an international market presence, with engagements across Europe and other cold-climate markets including Australia. The company 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.”
The company’s broader vision is to establish India as a source of deep-tech textile innovation for global markets, with a focus on advanced and technical textiles. It aims to build a globally recognised textile R&D company that develops new materials, products and problem-solving technologies while creating opportunities for textile engineers to work on technology-led solutions to real-world challenges.
About IndigoTex
Indigotex Private Limited is an IIT Delhi-originated deep-tech textile company developing and commercialising innovative, high-performance and sustainable fabrics and waterless textile processing technologies. The company focuses on creating next-generation textile solutions across wool, technical textiles and sustainable manufacturing.
About IAN Angel Fund
IAN Angel Fund, the evergreen fund of IAN Group, is a SEBI-registered Category I AIF and part of India’s leading early-stage investment platform, which pioneered angel investing in the country. Today, IAN invests through its Angel Fund and venture capital funds, backed by a network of approximately 500 investors, including iconic entrepreneurs and industry leaders from India and overseas. The platform enables founders to raise capital from ₹50 lakh to ₹50 crore as they scale, while offering investors a diversified early-stage portfolio across both emerging and growth-stage startups.
About IAN Group
IAN Group is India’s largest horizontal platform for early-stage investments, comprising the IAN Angel Fund, BioAngels, and a series of SEBI-registered venture capital funds, including the US$100 million IAN Alpha Fund. IAN supports entrepreneurs with capital, mentoring by experienced founders, and access to global markets. Forbes has recognised IAN as one of the most iconic business and economic developments of Independent India over the last 75 years, alongside institutions such as LIC, NASSCOM, the RBI, and Naukri.com.