Spiber Raises Over JPY10 Billion for Mass Production of Fermented Proteins for Materials
Spiber Inc., a Japanese biotech “brewing” sustainable materials for the fashion, automotive, and personal care industry, announces it has raised over JPY10 billion (around $65M) in equity financing. Spiber has raised a total funding of $489 million over 9 rounds. The funding, which included additional investments from existing shareholders, will allow the company to accelerate mass production of its innovative Brewed Protein materials and facilitate global sales. Founded in 2007, Spiber uses precision fermentation and polymer and material science to develop protein-based alternatives to animal and petrochemical materials. Its polymers can be used to make spider silk, wool, cashmere, leather, fur, and more. The company already operates biomanufacturing plants in Thailand and is building another in Iowa, USA. Kazuhide Sekiyama, Director and Representative Executive Officer …