Thursday, May 12, 2016

Bolt Threads Sews Up $50M Round For Synthetic Silk

Emeryville-based Bolt Threads, a developer of synthetic silk, made out of natural proteins--rather than hydrocarbons--has raised $50M in a Series C funding, the company said Wednesday. The fudning was led by Formation 8, and also included Nan Fung (Hong Kong), Innovation Endeavors (Eric Schmidt), Alafi Capital, East West Capital, Foundation Capital and Founders Fund. The company says it also has inked a deal with Patagonia to advance its technology in developing high performance fabrics. The firm was founded by CEO Dan Widmaier, Chief Scientific Officer David Breslauer and Vice President of Operations Ethan Mirsky. More information »