PYRATEX® is aware of the importance of the fabrics used contributing to the functionality of the garments manufactured. Therefore, they invest a large part of their resources in R&D projects.
Regina Polanco, Founder and CEO of PYRATEX®, broke into the entrepreneurial ecosystem in 2014, after months of unsuccessful searching for functional fabrics that she could use in her own fashion collections, with the aim of finding natural options which will replace synthetic fibers in production processes, capable of providing functional qualities to final garments.
Thus, after years of research, the company came to the market offering a range of 5 PYRATEX® fabrics, created together with European textile laboratories, from natural fibers. Currently, the team has expanded its fabric ranges to 11 and offers more than 40 textile formulas on the market, thanks to the implementation of constant research, development and innovation processes. PYRATEX®'s activity goes beyond providing its customers with the necessary fabrics. The team is also working on R & D projects together with those brands that require it to co-create specific fabrics that adapt to the needs of each of them. In addition, customers can opt for the option of hiring the company so that PYRATEX® is in charge of the production process, until they find final, fully finished garments.
In addition, the PYRATEX® team also engages with its clients' marketing and communication departments and teams so that they can adequately communicate the collaboration carried out and the functionalities of the fabrics used, thus providing incalculable added value.
Through collaborations, PYRATEX® works with brands in the textile market that benefit from the versatility of their technology and invest their efforts in generating a positive impact on it. Among the most recent, internationally known brands such as Pepe Jeans, Camper and Asics stand out, who have launched a yoga capsule with seven garments for women using PYRATEX® fabrics. The company, with headquarters in Madrid and factories in Spain, Italy, Portugal and Mexico, acts under the strategy known as glocalization (global thinking combined with local actions), which allows them to have traceability throughout your production chain, establish alliances that maximize the potential of PYRATEX® and adapt to the needs of the different markets in which it operates.
The company's potential is evident both to its customers and to current and future investors.
After closing a funding round in August 2019 worth 300,000€ with relevant investors such as ASICS Venture Capital, Sébastien Lefebvre and Felipe Carrasco, the company worked together with the Intelectium team and has closed, this time, a new round worth 600,000€, led by Asics Venture Capital. The company has managed to leverage this round by granting an ENISA loan worth €300,000.
How has Intelectium helped them?
Intelectium supports the company in reviewing, improving the deck and preparing financial projections. Intelectium has recently worked closely with the PYRATEX® team in applying for different lines of public funding, in this case, through the Women TechEU Program and the CDTI PID Program. We will keep you updated on the company's news!
Women TechEU Program
The Program provides funding for highly innovative startups founded or co-founded by women in senior management positions. The destination of the funding must be activities that contribute to the effective growth of the business and the proposals submitted are evaluated by the responsible committee based on criteria of excellence, impact and quality and efficiency of implementation.
PID Program
The Program provides funding for Research and Development Projects aimed at “significantly improving processes, products, or services”. To be beneficiaries of the aid, companies, regardless of their sector of activity, can carry out both industrial research and experimental development activities.
The minimum budget that can be financed by the CDTI PID Program is 175,000€ (the maximum aid intensity is 85% of the project, so the company must contribute at least 15% of it through its own resources) and the projects to be developed must last between 12 and 36 months.
Do you want us to help you assess the financing options that best suit your company? Contact us through the following Form without any commitment.
