AM Silk raises $35 million to make silk polymers available to more industries
AM Silk, a German fibre inventor, has raised €29 million ($35 million) in Series C funding to make the company’s silk polymers available in industrial quantities to an even broader variety of clients and industries.
AM Silk’s material, Bio steel fibre, is made from a biopolymer based on natural spider silk, a material known for its strength, flexibility and toughness. AMSilk produces Bio steel fibre – made from plant-based raw materials via a bacterial fermentation process – through a closed-loop biotechnological process that means the product is sustainable, with no petroleum inputs.
The company already produces Bios teel for industrial applications as well as within areas of the textiles industry where its high tensile strength is required.
In 2018, for example, the firm partnered with European aerospace corporation Airbus to develop composite materials for the sector.
Through the investment round, Novo Growth, the growth equity arm of Novo Holdings, provided considerable support for AM Silk’s activities.
