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AMSilk attracts €29 million financing

Company is already producing Biosteel fibres for textiles and industrial applications.

7th June 2021

Innovation in Textiles
 |  Planegg, Germany

Sports/​Outdoor, Transport/​Aerospace

Novo Growth, the growth equity arm of Copenhagen, Denmark-headquartered Novo Holdings, has led a €29 million series C investment in AMSilk, the developer of synthetic silk biopolymers.

The high-performance biopolymers of AMSilk, based in Planegg, near Munich, Germany, have the unique functional properties of the natural product they are based on.

The company’s products are made from plant-based raw materials via bacterial fermentation, and are extremely versatile, with advanced mechanical and biochemical properties. The environmentally friendly, sustainable silk biopolymers can be fully recycled and are 100% biodegradable.

The company is already producing Biosteel fibres for textiles and industrial applications worldwide and has announced collaborations and partnerships with brands such as Adidas and Airbus.

The organic high-performance materials can be used in multiple ways and are suitable for medical devices as well as for personal care products.

“AMSilk’s technology has the potential to revolutionise a number of industries and be part of the decarbonisation push needed to overcome the biggest environmental challenges of our time,” said Novo Growth partner Kartik Dharmadhikari. “The company has made immense progress in enhancing its high-performance bio-based materials and we are delighted to lead this financing which will enable the team to expand the business globally.”

“Together with our customers we work to create high-performance bio-based materials with the potential to revolutionise product offerings and drive change across various industries,” added Ulrich Scherbel, AMSilk CEO. “It is exciting to have the support from high-technology investors, led by Novo Holdings, to make our silk polymers available in industrial quantities to an even broader range of customers and industries.”

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