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Venture Capital News: Bolt Threads Grabs $123M Series D

2018-01-22
EMERYVILLE, CA, Bolt Threads announced it has raised $123 million in Series D funding led by Baillie Gifford.
Today, materials innovation company Bolt Threads announced it has raised $123 million in Series D funding. Baillie Gifford led the round, with additional participation from Fidelity Management and Research Company, Formation 8/BUILDERS VC, Founders Fund, and Temasek. Allen & Company LLC both advised on the transaction and participated in the round.

Founded in 2009, Bolt Threads has made great strides in developing proprietary technology and revolutionary bioengineering concepts to deliver high-performance materials focused on sustainability. This year, Bolt Threads released the Microsilk™ tie, the world's first man-made spider silk product available for purchase. 2017 also marked the debut of Bolt Threads' Microsilk™ dress designed by Stella McCartney featured at the Museum of Modern Art's "Items: Is Fashion Modern?" exhibit, and the sale of the Microsilk™ Cap of Courage, a Microsilk™-wool blend hat made in partnership with Best Made Company.

Bolt Threads will use the Series D funding to continue development and commercialization of its advanced materials technology. On the funding and future of Bolt Threads, Co-Founder and CEO Dan Widmaier said:

"The past year has been a major step forward for us at Bolt Threads. After years of research and development, we're proud to be the first to bring man-made spider silk to market, but we know this just scratches the surface of what's possible in materials innovation. With this capital, we will continue to refine our processes, and we look forward to a number of exciting brand partnerships and products slated for 2018."

Tom Slater, Partner at Baillie Gifford, shared his optimism about the brand's potential impact: "Bolt Threads' ability to engineer a new generation of sustainable, high performance materials creates huge opportunities in apparel manufacturing and beyond. We are delighted to start a long-term partnership with Dan and the team as they realize their vision of transforming the textile industry."

ABOUT BOLT THREADS
Bolt Threads is a materials innovation company. We harness proteins found in nature to develop programmable fibers and fabrics. Using proprietary technology and revolutionary bioengineering concepts, we can transform the world around us, delivering high-performance materials focused on sustainability. For more information, visit www.boltthreads.com.
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