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Bolt Threads raises $40 million for silk fibre research

11 Jun '15

2 min read

Bolt Threads, a new company developing the next generation of high-performance textiles, has raised a total of $40 million to fuel research and commercialization of its engineered silk technology in Series B funding.

Formation 8 and Foundation Capital led the round with participation from Founders Fund. Bolt Threads uses proprietary technologies to create engineered silk fibres based on proteins found in nature. These programmable fibres, which can be tuned to provide superior comfort and performance, represent the most significant innovation the textile industry has seen for decades. Bolt Threads will use its Series B funding to increase production of better, smarter, more sustainable fibres and grow its team of technology and apparel experts, the company said in a statement.

Bolt Threads is American-based, conducting research at its headquarters in Emeryville, California and using feedstock grown in the Midwest for production. The company is also collaborating with textile manufacturers in North Carolina to commercially scale production.

The founding team originally received grant funding from multiple sources, including the National Science Foundation, and raised Series A funding from Foundation Capital, Mission Bay Capital, and Zygote Ventures. Each of the Series A participants also contributed to Series B funding, along with Formation 8, Founders Fund, and Alafi Capital. (GK)

Fibre2fashion News Desk - India

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Bolt Threads raises $40 million for silk fibre research

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