GERMANY – AMSilk, a German bio-fabricated silk protein supplier, has secured an additional €25 million (US$27.4 million) in its extended series C funding round bringing the total financing to €54 million (US$59.1 million).
The latest funding round was led by existing investor Athos (AT Newtec) with participation from Novo Holdings, Cargill and MIG Capital.
The company will use the proceeds to accelerate the scale-up of its industrialization and commercialization projects worldwide.
Ulrich Scherbel, CEO at AMSilk said: “We are delighted to have closed this successful financing round which validates our technology and underpins our ongoing development as we scale up and expand our commercial operations.
“We will invest in technology to continue to provide innovative, attractive solutions to our customers and improve the commercial supply of our products to expand our business.”
AMSilk’s bio-fabrication platform reprograms microorganisms to enable them to produce silk proteins into usable forms such as powders, hydrogels, fibers and coatings.
Coupled with its fermentation process, this allows the company to produce complex proteins in large quantities.
The company states that its silk materials are 100% protein, fully biodegradable under aerobic and marine conditions and do not include any source of microplastics.
AMSilk biopolymers are distributed in the form of Silkbeads (microparticles), Silkgel (hydrogel) or Biosteel (fibers).
They are currently used in coatings for medical technology products, in the textile industry and as an ingredient in personal care products.
In 2021, the firm successfully raised €29 million (US$31.8 million), which it invested in partnership agreements with brands in the apparel, medical and automotive industry and supply contracts with leaders from the biotech industry.
The silk polymer can be integrated into large-scale manufacturing processes, including product treatment or coating using dip coating or spraying technologies.
All products can be manufactured under diverse regulated environments as required, ranging from technical to cosmetic, food and medical grades.
Daniel Kolb, investment manager at Athos added: “Athos has been investing in revolutionary technologies. We are highly interested in bio-materials because of their proven ability to change the world for the better.”
In January 2022, AMSilk announced a collaboration with Mercedes-Benz to make sustainable car door pulls using its certified vegan fabric
And in February, the biotech announced a collaboration with BRAIN Biotech to develop high-performance vegan fibers for textiles and other applications.
The company is also known for collaborating with Adidas for its synthetic, biodegradable spider silk shoes.
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