
TNB Aura makes first Philippines investment to textile membrane tech startup Nibertex
Source: GMA networkSoutheast Asia-focused venture capital firm TNB Aura is making its first investment in the Philippines in the materials science startup Nibertex, which has a production facility in the country.
At the sidelines of TNB Aura’s VC Socials in Taguig City on Thursday, TNB Aura co-founder and managing partner Vicknesh Pillay told GMA News Online that the venture capital firm is investing $4 million in Nibertex out of a $7 million funding round that the startup has secured together with Asian Development Bank, Foxmont Capital Partners, The Soriano Group & Family Office, among other venture capitalists.
“The capital goes towards Nibertex creating more production lines… Our goal is to keep the company profitable,” Pillay said.
“Nibertex, in our view, is one of the fastest-growing startups [in the] Philippines. It is headquartered in Singapore, has Korean founders but is solving global problems [while] manufacturing in the Philippines,” he said.
Pillay noted that TNB Aura saw potential in Nibertex’s proprietary PFAS (Per- and Polyfluoroalkyl Substances)-free textiles waterproofing technology.
“We felt that they have now created a hockey stick kind of J-curve where they are getting a lot of contracts finally from several notable players… with this particular membrane… now most of the brands are also trying to approach them,” he said.
Pillay said Nibertext currently has 150 employees in its production line in the Philippines.
“With more production lines, there will be a lot of employment there,” he said.
TNB Aura has also partnered with GMA Ventures Inc. (GVI), the investment arm of GMA Network Inc., with the two parties directly investing in firms that they both believe in.
Particularly, TNB Aura and GVI have a partnership agreement with Hofer Development Company (HDC), a house-of-brands company that develops over-the-counter products under the health care category. — VDV, GMA Integrated News
Written by: Ted Cordero
7 August, 2025