The news from 50 vegan publishers and animal rights charities are automatically posted here
News feed updated every 5 minutes

Japan’s Spiber Reels in $312M For Vegan Spider Silk Facility in USA, Plans IPO


September 13, 2021
From Vegconomist
159 views

Japan’s Spiber Reels in $312M For Vegan Spider Silk Facility in USA, Plans IPO – vegconomist – the vegan business magazine


  • September 13, 2021

    1631512852


    Voiced by Amazon Polly

    Japanese biotech company has raised a huge $312 million in a funding round led by private equity firm . Fund managers Fidelity and Baillie Gifford also contributed to the round.

    Spiber says it will use the funding to build a mass production facility in Iowa. The company also told it was planning an IPO, though this is likely still a few years away.

    Spiber develops its products by using fermentation to form plant-based polymers. These polymers can then be used to make vegan versions of fabrics such as spider silk, wool, cashmere, leather, fur, and even tortoiseshell. Unlike many animal-free fibres, Spiber’s products do not rely on crude oil and are biodegradable.

    spiber spider silk
    © spiber.jp

    Late last year, Spiber partnered with Japanese sports brand Goldwin to produce . The two companies had previously collaborated to make parkas using vegan spider silk. Spiber has also to produce ergonomic seats reinforced with the animal-free silk.

    Spiber is one of a very small number of “unicorns” — startups valued at over $1 billion — in Japan. Lead investor Carlyle said it would be allocating a significant proportion of its buyout fund to help finance these startups.

    “We believe we can help them grow their businesses, through M&As and overseas expansions, to an extent they are large enough to debut on the Tokyo bourse’s main board or overseas,” it told Reuters.




    Source: Vegconomist.com
    Discuss In The Forum


    FOLLOW US
    ON TWITTER
    FOLLOW US
    ON MASTODON
    FOLLOW US
    ON TUMBLR


    PETA-Certified Vegan T-shirts ★ Free Shipping


    Real animal lovers don't eat meat
    The question is not can they reason, nor can they talk, but... can they suffer?
    La vie n'est pas un produit de consommation
    Go vegan
    Powered by plants
    Vegan militance saves lives
    Vegan
    Go vegan
    Friends not food
    Je vais arrêter d'imposer mes idées quand tu arrrêteras de leur imposer les tiennes

    vegan shirts




    All content sourced from external websites. Opinions are those of the contributors and are not necessarily endorsed by Vegan-news.net or its partners. [Disclaimer]