University of Toronto · Feb 2026
Recent University of Toronto feature on ALT TEX; says Avneet Ghotra is co-founder and CTO and that the startup has raised more than $4.5M, with early support from ICUBE and SpinUp.
Biodegradable and carbon neutral textiles, engineered from food waste.
Company research
Public company, workplace, funding, and market signals
Updated Jul 29, 2026
Overview
ALT TEX is a Toronto-based biomaterials startup developing a food-waste-derived polyester alternative for the fashion industry. Its core pitch is a plug-and-play, biodegradable, cost-competitive fabric that behaves like polyester while using fermentation and existing polyester manufacturing infrastructure.
Primary product
Food-waste-derived biodegradable polyester alternative fabric
Founded
2020
Headquarters
Toronto, Ontario, Canada
Team size
10-20
Industry
Biotechnology Research
Sub-industry
Biomaterials / sustainable textiles
Offices
100 College St, Toronto, Ontario, Canada
Brampton, Ontario, Canada
Business model
B2B fabric sales to fashion brands
brand partnerships / pilot commercialization
feedstock partnerships with food processors and food waste suppliers
Funding
Stage
Seed
Total raised
$3.5M
Latest round
Seed VC - III · Oct 2022
May 2023 · H&M Foundation
$450K
Oct 2022 · Panache Ventures
Sep 2022 · Y Combinator
May 2021 · Amplify Capital and Garage Capital
May 2021 · Garage Capital and Amplify Capital
Industrial Research Assistance Program / SR&ED
People & investors
Investors
Agriculture and Agri-Food Canada
Ajay Agrawal
Amplify Capital
Chris Hadfield
Garage Capital
Globalive Capital
H&M Foundation
ICUBE UTM
IT-Farm
Panache Ventures
Presstar
Ramen Ventures
RBC Women in Cleantech Accelerator
Spacecadet Ventures
SpinUp Wet Lab Incubator
Sustainable Development Technology Canada
Y Combinator
Work & culture
Mission-driven, science-led, and sustainability-focused; public messaging emphasizes radical innovation, entrepreneurship, and circular fashion materials.
Product & market
Pricing
B2B material sales to fashion brands
Differentiators
- —Uses food waste as feedstock instead of petroleum
- —Designed to be biodegradable in industrial digesters
- —Behaves like polyester but with lower environmental impact
- —Works with existing polyester manufacturing infrastructure
- —Positions as carbon-neutral through emissions capture and lower energy use
- —Claims cost competitiveness versus premium sustainable alternatives
Technology
food-to-fabric fermentation
bioplastic fiber
polyester melt extrusion
industrial biodegradability
microbial bioprocessing
polymer chemistry
biomaterials R&D
compatibility with existing polyester machinery
Customers
fashion brands
brand partners
food processors / food waste suppliers
Competitors
BioFluff
Thread International
Space Division
Environmental Concepts and Services
SRTX
Werewool
Evrnu
Scale & contact
Latest news
Forbes · Jan 2025
Forbes profile highlighting cofounders Myra Arshad and Avneet Ghotra, the food-waste-to-fabric thesis, and the company’s roughly $3.5M in funding.
University of Waterloo News · Dec 2024
Mentions ALT TEX founders among Forbes 30 Under 30 honorees and reiterates that the company is Toronto-based and has raised about $3.5M.
The Hustle · Apr 2024
Profile of ALT TEX’s commercialization push, team size, and food-waste-derived fabric concept.
MaRS Discovery District · Jul 2023
Detailed founder interview describing the company’s mission, then-current employee count, and total funding raised at the time.
Jobs and careers at ALT TEX
0 jobs at ALT TEX
No open positions
Check back later for new openings