IAN Angel Fund Backs IndigoTex With ₹5 Crore To Scale India’s Waterless Wool Denim Innovation

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.

Voltas Subsidiary Partners with Italy’s Danitech to Modernize Indian Textile Industry

Universal MEP Projects & Engineering Services Limited (UMPESL), a wholly owned subsidiary of Voltas Limited, a Tata Enterprise, has entered into a strategic agency agreement with Danitech Group, a global leader in advanced textile dyeing, finishing, and automation solutions. Danitech Group is represented in this partnership by Danitech Engineering & Solutions Srl (Italy) and its subsidiary Suzhou Danitech Intelligent Technology (China).

Under the agreement, UMPESL will serve as the exclusive partner for the promotion, sales, technical consultancy, and after-sales support of Danitech’s products and integrated solutions across India. The collaboration will operate in close alignment with Danitech’s global headquarters, ensuring seamless delivery of world-class technologies to Indian customers.

This partnership brings together Danitech’s cutting-edge engineering capabilities with UMPESL’s strong market presence, proven project execution expertise, and robust nationwide service network.

With over seven decades of experience, UMPESL has established itself as a trusted provider of end-to-end textile solutions, covering the entire value chain from spinning to garmenting, supported by world-class engineering and customer-centric services.

The strategic alliance is set to significantly strengthen the Indian textile industry’s access to advanced processing technologies, smart automation systems, and energy-efficient solutions, alongside reliable lifecycle service support. This reinforces the strong alignment between both organisations in advancing innovation, improving operational efficiency, and fostering sustainable growth across the sector.

UMPESL has been appointed as the exclusive partner to drive promotion, sales, technical consultancy, and after-sales support for the complete range of solutions from Danitech Engineering & Solutions Srl (Italy) and Suzhou Danitech Intelligent Technology, working in full synergy with Danitech’s global headquarters.

The agreement was formally signed by Mr. Danilo Cagnazzi, Chairman, Danitech, and Mr. Pradip Roy, Head – Textile Division, UMPESL, in the presence of Mr. B. Saikumar, Head – Post Spinning, UMPESL, and Ms. Jie Yin, CEO, Danitech.

Speaking on the occasion, representatives from both companies highlighted the importance of the partnership in supporting the modernization and competitiveness of the Indian textile sector.

Commenting on the partnership, Mr. Pradip Roy, Head – Textile Division, UMPESL said: “We are proud to partner with Danitech to further strengthen our textile technology portfolio. This collaboration enables us to bring advanced, future-ready and sustainable processing solutions to our customers across India, backed by our decades of domain expertise and service excellence.”

Mr. Danilo Cagnazzi, Chairman, further added: “India represents a key strategic market for Danitech’s global growth. This partnership reflects our long-term commitment to the country and our focus on delivering integrated, automated, and sustainable textile solutions. We look forward to building a strong and enduring relationship with UMPESL.”

Danitech reaffirms its long-term commitment to India, placing strong confidence in UMPESL as a strategic partner to drive its next phase of growth. Recognising India as a key pillar in its global expansion, the Group looks forward to a collaborative, enduring partnership built on shared expertise, technological innovation, environmental responsibility, and mutual industrial progress.