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Fibres/​Yarns/​Fabrics

Bolt Threads raises US 40 Million to bring engineered silk technology to market

Bolt Threads uses proprietary technologies to create programmable engineered silk fibres based on proteins found in nature.

8th June 2015

Innovation in Textiles
 |  Emeryville, CA

Sustainable, Clothing/​Footwear

“While it’s one of the oldest industries in existence, I believe textiles is still ripe for innovation,” said Steve Vassallo, general partner at Foundation Capital. “Bolt Threads is uniquely positioned to commercialize technology that people have dreamt about for decades. They have developed a way to make Engineered Silk fibres at a commercial scale, at a cost that makes it viable for widespread use in consumer products – something no one else has done.”

“I had been looking into the industry for years before I began working with the founding team in 2010, and I couldn’t be more excited about the potential for Bolt Threads’ Engineered Silk to transform the textile industry.”

Engineered silk technology

The process of natural silk production inspired the company’s co-founders, CEO Dan Widmaier, Chief Scientific Officer David Breslauer and Vice President of Operations Ethan Mirsky. They founded the company in 2009 to create materials with exceptional performance properties.

Bolt Threads now uses proprietary technologies to create programmable engineered silk fibres based on proteins found in nature. “We started Bolt Threads based on our fascination with the properties of spider silk, particularly how to use the elegant solutions found in nature to create something even better,” said Widmaier.

“Our technology combines biology and computational methods to create performance fibres with carefully crafted properties. We’re very excited to sustainably develop the next generation of performance fabrics that will transform what we wear and how we live.”

Funding

The company 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 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.

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

www.boltthreads.com

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