AMSilk, a Munich, Germany-based industrial supplier of bio-fabricated silk protein materials, raised additional €25M in Series C extension funding.
The round, which brought the total Series C amount to €54M, was led by ATHOS (AT Newtec) with participation from Novo Holdings, Cargill, and MIG Capital.
The company intends to use the funds to accelerate industrial scale-up and expand commercial operations of bio-fabricated silk protein materials.
Led by CEO Ulrich Scherbel, AMSilk is an industrial supplier of bio-fabricated plant based raw materials that are biodegradable at industrial quantities. Using a patented biotechnological process, its biotech material based on silk proteins can be converted into usable forms such as powders, hydrogels, fibers, and coatings. Its bio-fabricated silk is made from plant-based renewable raw materials that are 100% protein, and does not involve any natural farming processes. The bio-fabricated materials are fully biodegradable under aerobic and marine conditions, and do not include any source of micro plastics.
Since the €29M financing in 2021, the company has invested in partnership agreements with world-leading brands in the apparel, medical and automotive industry, and supply contracts with leaders from the biotech industry.
FinSMEs
04/04/2023