Major cash injection for Activated Silk maker
06/07/2022
Existing investors such as Chanel, Mousse Partners, Jeffrey Vinik, Kraft Group, Roy Disney and Emerald Development Managers also participated in the fundraising.
Evolved by Nature’s flagship innovation is Activated Silk, a library of molecules bioharvested from natural silk fibre that the company says can be used to support a range of applications across the textiles, leather, personal care and medical fields. According to its developer, the platform is a viable alternative to synthetic chemicals, pigments and fossil-fuel derivatives such as polyester and other plastics.
The company is also currently developing CircleMade, an “all-natural” and yet “high-performance” yarn made by combining regenerated fibres and Activated Silk. It describes this technology as designed with improved dye absorption, durability and “planet-friendly” recyclability in mind.
In response to this latest round of financing, the biotechnology firm’s president, co-founder and chief operating officer, Dr Rebecca Lacouture, commented that the extra funds would enable Evolved by Nature to make its proprietary molecules library available to new development partners. “Together, we can enhance the performance potential of essentially any surface,” she said.
The funding will further allow Evolved by Nature's newly opened Walpole, Massachusetts, factory to operate at full capacity. This is expected to result in the production of 900 tons of Activated Silk per year in 2024, it added, representing a significant increase over the facility’s current annual capacity of 150 tons as of May 2022.
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