On April 20, 2022, Sheertex Holdings Corp, based in Montreal, successfully raised $101 million in a funding round. This round was notably led by H&M, the Swedish retail giant. H&M's contribution to this transaction was significant, investing $62.25 million. The round saw participation from a diverse group of 33 investors, including Export Development Canada, an existing investor. These investors came from various countries, including Canada, the United States, Hong Kong, the Netherlands, and New Zealand.

Sheertex is recognized for producing "unbreakable" pantyhose. The company's founder and CEO, Katherine Homuth, has innovated in the hosiery industry by transforming a polymer, typically used in bulletproof vests, into tights. These tights are remarkably durable, boasting a material strength that is ten times stronger than steel. This innovation represents a significant departure from traditional nylon pantyhose, offering a more robust and sustainable alternative.

Homuth expressed excitement about the funding, which will primarily facilitate further development of Sheertex's proprietary materials. Additionally, it will support the expansion of their vertically integrated manufacturing. She underscored the importance of their partners, who share Sheertex's commitment to sustainability. The company is poised to grow not only in the hosiery sector but also in new categories, leveraging this financial support and partnership network.