The nonwoven fabric maker has secured an undisclosed amount of funding from Neenah Gessner, a Germany-based subsidiary of paper company Neenah Paper.
Neenah Gessner, a paper and textile subsidiary of US-based Neenah Paper, has acquired a minority stake in India-based nonwoven fabric manufacturer AIM Filtertech, VC Circle has reported.
The exact amount of the minority stake acquisition was not disclosed, but is significant according to VCC.
AIM Filtertech produces and manufactures nonwoven filtration products, a market that is expected to grow faster than woven textiles. The Indian textile industry is worth an estimated $11bn in total.
Although details are scarce, Neenah Gessner’s…
