The Munich companies Amsilk produces synthetic silk from plant-based raw materials. To do so, the startup reprograms microorganisms to produce silk proteins in usable forms such as powders, hydrogels, fibers, and coatings. Combined with a fermentation process, this enables the company to produce complex proteins in large quantities. These are produced for various market segments such as textiles, medical applications, or consumer goods. The silk biopolymers are fully recyclable, biodegradable, and contain no source of microplastics.
The $25 million raised in an extension of its Series C financing is being contributed by Athos, Novo Holdings, Cargill, and MIG Capital. MIG, Novo Holdings, and Cargill also participated in the original round. ER Capital also joined the investors in 2021. Amsilk plans to use the newly raised funds to expand its industrialization and commercialization projects worldwide to meet growing demand.
Amsilk expects demand to continue to rise
Ulrich Scherbel, CEO of Amsilk, says:
"We are very pleased with the successful completion of this financing round, which validates our technology and supports our ongoing development in scaling and expanding our commercial activities. We will invest in technologies to ensure we can continue to offer our customers innovative, attractive solutions and enhance the commercial delivery of our products to grow our business."
Wolfgang Colberg, Chairman of Amsilk's Advisory Board, adds:
"This fundraising is an important step in accelerating Amsilk's scaling. It will now lay the foundation for large-scale production and meet the high growth demand from our customers, enabling them to create sustainable products in harmony with nature."
Daniel Kolb, Investment Manager at Athos, explains:
"Athos has always invested in revolutionary technologies. We are very interested in biomaterials because of their proven potential to change the world for the better. As one of the founding investors, we continue to support Amsilk in this important step toward expanding their production. Their groundbreaking products can have a real impact on the market."
