AMSilk announces extension of Series C Financing to €54 million

YarnsandFibers News Bureau 2023-04-04 18:01:37 – Germany

German biotech company AMSilk, announced it has successfully raised an additional EUR 25 million in an extended Series C financing led by existing investor ATHOS (AT Newtec), with participation from Novo Holdings, Cargill, and MIG Capital, AMSilk, the first industrial supplier of bio-fabricated silk protein materials, announced today.

Based on silk proteins, AMSilk's excellent technological platform creates bio-fabricated materials that can be used in a wide range of applications, including textile fibers, medical devices, and consumer goods.

To address the rising demand for AMSilk's cutting-edge materials, the financing's proceeds will allow the company to scale up its manufacturing and commercialization projects more quickly across the globe.

The proprietary bio-fabrication process used by AMSilk rewires microorganisms to manufacture silk proteins in useful forms as powders, hydrogels, fibers, and coatings. The company is able to create complex proteins in huge quantities for a variety of industry segments, such as textiles, medicinal applications, or consumer items, thanks to this and its distinctive fermentation process. The bio-fabricated silk products from AMSilk are made entirely of protein, are completely biodegradable, and contain no microplastics.

Ulrich Scherbel, Chief Executive Officer of AMSilk, said that they are happy to have closed this successful financing round which confirms their technology and underpins their continuous development as they scale-up and expand their commercial operations. In order to keep offering their clients cutting-edge, alluring solutions and to increase the availability of their items on the market, they will invest in technology.

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