Auckland-based Texus Fibre (now Lanaco) has raised $1 million in funding from a group of investors, including the New Zealand Venture Investor Fund (NZVIF), Seraph.vc, and Wool Industry Research Limited (WIRL).
Texus Fibre is a technology company that develops and licenses products made from natural wool. The company’s products are used in a variety of applications, including medical, filtration, and construction.
The company’s flagship product is a non-woven wool material that is used to make air filters. The filters are designed to remove harmful particles from the air, such as dust, pollen, and bacteria. The filters are also flame retardant and can be used in a variety of environments, including hospitals, schools, and homes.
Texus Fibre’s products are in high demand in China, where air pollution is a major problem. The company plans to use the funding to expand its operations in China and other Asian markets.
Nick Davenport, founder and CEO of Texus Fibre, said the funding would allow the company to “accelerate our growth and bring our innovative products to market.”
“We are excited about the opportunities that lie ahead for Texus Fibre,” Davenport said. “We believe that our products have the potential to make a real difference in people’s lives.”
Texus Fibre is one of a number of New Zealand companies that are developing innovative products from wool. The company’s success is a testament to the potential of wool as a sustainable and versatile material.