Home / Knowledge / News / Textiles / AMSilk closes five million euro financing round
AMSilk closes five million euro financing round
18
Mar '11
AMSilk, a privately-held company specializing in the development and production of high performance materials based on spider silk, is announcing the successful completion of a 5 million Euro Series B financing round.

Investors include MIG Fonds 6, MIG Fonds 7 and MIG Fonds 11, as well as AT Newtec. The newly raised funds will secure AMSilk's advancement and commercialization efforts for its first spider silk-based products. AMSilk produces and processes SPIDERSILK, high performance biopolymers copied from the proteins of web-weaving spiders.

SPIDERSILK has unique properties such as mechanical toughness, chemical resistance and biocompatibility - while being completely biodegradable. AMSilk is able to produce SPIDERSILK in large scale and produce coatings, beads, films, nonwovens, and fibers used to improve existing or to develop completely new products. AMSilk is, together with various partners, developing several applications for this new material.

The successful kilogram-scale production and the continuous development of optimized processing parameters since the company foundation in 2008 were important prerequisites for the new series B financing round. AMSilk produces SPIDERSILK in bacteria using a sustainable and environmentally friendly process that requires no fossil fuel-based chemicals and generates no toxic waste.

"We are excited to continue our partnership with the investors who have supported us since the company formation in 2008,” says Axel Leimer, Managing Director of AMSilk. “There is an urgent need to develop new and superior cleantech products with a smaller environmental footprint and previously unachievable features.

The newly raised funds will be used to commercialize our products through partnerships with leading companies across major industries," added Leimer. AMSilk is currently developing a SPIDERSILK coating for certain implants to improve biocompatibility and reduce fibrosis. Additionally, a recent publication in the scientific journal Biomaterials (2011;32(8):2233-40) shows that SPIDERSILK beads are efficient drug delivery vehicles. These two examples illustrate the broad commercial range of the SPIDERSILK material.

AMSilk - Spider silk has attracted human interest for thousands of years, mainly due to its toughness and ductility. As with most biomaterials, spider silk has evolved over millions of years resulting in properties that far exceed any man-made material.

Until now, it was not possible to utilize this high-performance material for technical applications. AMSilk is the first company to produce SPIDERSILK biopolymers, copied from the proteins of web-weaving spiders, on an industrial scale.

MIG Verwaltungs AG with operations in Munich, Germany is the initiator of the MIG fonds, a series of venture-capital funds for private investors with an investment focus in German speaking countries.

AMSilk GmbH

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Information Technology | On 25th Apr 2017

Self-repairing fabrics to be the future of fashion

It is the era of smart. Intelligent materials like self-repairing...

Textiles | On 25th Apr 2017

Indonesia revitalising textile sector

With exports of textile and textile products rising in Indonesia, the ...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eric Scholler
Groz-Beckert

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search