What does Bolt Threads do?
Bolt Threads , is a startup which is engineering the next generation of high performance fashion fibers. The company believes that answers to the most vexing problem can be found in the nature itself. The company is inspired by amazing materials they work with everyday, and driven by the desire for turning these materials into incredible products. It is a venture backed company which is driven by ideas and led by world class scientific and engineering talent, as well as experienced executives from apparel to tech industries.
How much Bolt Threads was funded?
Bolt Threads raised $32.3M in Series B funding on June 4, 2015 from Alafi Capital, Founders Fund, Formation 8 and Foundation Capital.
$7.7M in Series A funding on November 22, 2014.
What is next for Bolt Threads?
Bolt Threads plans to make clothing which is stronger than steel and softer than Merino wool by manipulating the genes of bacteria to get them to produce the same silk threads which spiders spin from their glands in their behind.
The startup has been in stealth mode so far. The latest investment places the total amount of funding to date at $40M and now stands at a valuation of more than $100M. The latest funding will be used to help it manufacture the silk threads at scale. Bolt Threads is uniquely positioned for commercializing technology which people have dreamt for so long.
The funding will also be used for creating its own line of products for consumers and for creating relationships with other textile manufacturing operations and to bring cloth to the public and manufacturers in 2015.
More about Bolt Threads
Bolt Threads was founded on August 1, 2009 by David Breslauer and Dan Widmaier. It has its headquarters in Emeryville, CA. The startup is working with large textile partners who want to use this materials in their products.