Home / Knowledge / News / Textiles / Bolt Threads secures $50 million in funding
Bolt Threads secures $50 million in funding
12
May '16
US bio-technology firm producing engineered silk, Bolt Threads has raised $50 million in Series C funding from its existing investor, Formation 8 and from new investors like Nan Fung and Innovation Endeavors for further expansion.

Commenting on the funding, Jim Kim, founder and managing partner of Formation 8 said, “Bolt Threads’ engineered and elegant silks represent an opportunity to fundamentally impact and enable properties in clothing we never dreamt would be possible.”

“The $1.5 trillion textiles industry hasn’t achieved a major step forward since the 1930s, with the development of nylon,” he added.

Additionally, Dan Widmaier, CEO of Bolt Threads said, “Manmade fabrics like nylon and polyester have transformed the fashion industry, for better and for worse. The use of hydrocarbon polymers in these textiles has created a lingering toxic problem for the environment.”

“At Bolt Threads, we’re re-thinking textile manufacturing, producing high performance materials that are also not nearly as harmful to the environment as existing options,” he added.

Bolt Threads has also entered into a partnership with Patagonia, and is moving to yarn manufacturing. (MCJ)

Fibre2Fashion News Desk - India


Must ReadView All

IOC, MCPI to set up ₹1000 cr PSF unit in Odisha

Textiles | On 23rd May 2018

IOC, MCPI to set up ₹1000 cr PSF unit in Odisha

Indian Oil Corporation (IOC) has teamed up with Materials Chemicals...

Courtesy: Marks and Spencer

Apparel/Garments | On 23rd May 2018

M&S to close 14 Clothing & Home stores by 2019

Marks & Spencer (M&S), a leading British multi-national retailer,...

Courtesy: Archroma

Textiles | On 23rd May 2018

Archroma moving ahead in integration of M Dohmen

Archroma, leader in colour and specialty chemicals, is moving ahead...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search