The Munich-based company Amsilk produces synthetic silk from plant-based raw materials. The startup programs microorganisms to produce silk proteins in usable forms such as powder, 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 can be fully recycled, are biodegradable, and contain no source of microplastics.
The 25 million euros now raised in an extension of the Series C financing are being contributed by Athos, Novo Holdings, Cargill, and MIG Capital. MIG, Novo Holdings, and Cargill were already involved in the original round. In 2021, ER Capital also joined the investors. Amsilk plans to use the newly raised funds to expand its industrialization and commercialization projects worldwide to meet rising demand.
Amsilk expects continued rising demand
Ulrich Scherbel, CEO of Amsilk, says:
“We are very pleased about the successful completion of this financing round, which validates our technology and supports our ongoing efforts to scale and expand our commercial activities. We will invest in technologies to ensure that we continue to offer our customers innovative and attractive solutions and improve the commercial deployment of our products to expand our business.”
Wolfgang Colberg, Chairman of the Advisory Board of Amsilk, adds:
“This fundraising is an important step to accelerate Amsilk’s scaling. With this, we are now creating the conditions to produce in large quantities and to meet our customers’ high demand growth so they can manufacture 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 they have proven to be able to change the world for the better. As one of the founding investors, we continue to support Amsilk in this important step to expand their production. Their groundbreaking products can have a real impact on the market.”
