– GERMANY, Munich – AMSilk GmbH, the world’s first industrial supplier of synthetic silk biopolymers, today announced the successful closing of a EUR 29 million Series C financing led by Novo Growth with participation from new investors Cargill and E.R. Capital Holdings as well as existing investors MIG Verwaltungs AG and ATHOS KG.
Concurrent with the financing, Kartik Dharmadhikari, Partner, Anders Bendsen Spohr, Senior Partner at Novo Holdings, and Melissa Simon from ATHOS KG, will join the Supervisory Board.
The financing will accelerate the ongoing scale-up of AMSilk’s industrial projects worldwide and drive further the internationalization of its commercial activities as it continues to expand its customer base into new markets.
Ulrich Scherbel, CEO said: “Together with our customers we work to create high-performance bio-based materials with the potential to revolutionize product offerings and drive change across various industries. It is exciting to have the support from high-technology investors, led by Novo Holdings, to make our silk polymers available in industrial quantities to an even broader range of customers and industries.”
Dr. Wolfgang Colberg, Chairman of the Advisory Board, added: “With the inspiring support of our new and existing shareholders we are in a strong position to establish AMSilk as one of the leading bio-materials companies in the world.”
Kartik Dharmadhikari, Partner at Novo Growth, commented: “AMSilk’s technology has the potential to revolutionize several industries and be part of the decarbonization push needed to overcome the biggest environmental challenges of our time. The company has made immense progress in enhancing its high-performance bio-based materials and we are delighted to lead this financing which will enable them to expand the business globally. This investment underscores Novo Holdings’ commitment to backing companies that will have a long-term, sustainable impact on society.”
Asheesh Choudhary, Global Business Development Director, Bioindustrial at Cargill, added: “The apparel industry is demanding bio-based materials that are good for people and the planet. We are excited by AMSilk’s innovation as it offers a sustainable and functional product to its customers. We are investing in AMSilk because our strategic interests are well aligned, and we are happy to be a part of enabling its growth.”
About AMSilk
AMSilk GmbH is the world’s first industrial supplier of vegan silk biopolymers and has its headquarters in Planegg, near Munich, Germany. AMSilk’s high-performance biopolymers have the unique functional properties of the natural product they are based on. AMSilk offers its innovative range of high-performance Biosteel fibers for textiles and industrial applications worldwide and has announced collaborations and partnerships with world-leading brands like Adidas and Airbus. The organic high-performance material can be used in multiple ways and is suited for medical devices as well as for personal care products. AMSilk high-performance biopolymers give such products unique properties. Among other things, the polymers are biocompatible, safe, and robust.
For more information: http://www.amsilk.com/
About Novo Holdings
Novo Holdings is recognized as a leading life science investor with a focus on creating long-term value. As a life sciences investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets.
For more information: https://www.novoholdings.dk/
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