USA: ClickTex.com Receives $2.2 Million Investment

ClickTex.com, a business-to-business Net market for the textile industry, today announced that it has received first-round funding totaling $2.2 million. ClickTex.com's exclusive financial advisor, Hunter Capital Group LLC, arranged the investment which represents a collaborative effort from lead investor KPH, Tynwald Investments, F3 Ventures and a private Saudi investment group. "We are very pleased to provide ClickTex.com with the capital they will need to bring their exciting concept to market. This opportunity allows ClickTex.com to implement key facets of their strategic, operational, and marketing initiatives, which will utilize the Internet to streamline the procurement process within the textile industry," said Pinak Maitra, controller of KPH. "Included in our Internet strategy is to invest in the key vertical and horizontal Internet marketplaces in the industries which have global presence." Ross Henderson, president of ClickTex.com, says: "This investment is instrumental in supporting our Net market, and will allow us to begin an aggressive expansion of the capabilities and functionalities of our site." For ClickTex.com, the financing agreement will help implement its global strategic initiatives, including the enhancement of Web site functionality and the expansion of planned aggressive growth.