The round was led by board member Jeff Vinik, the former manager of Fidelity’s Magellan Fund and current owner of the Tampa Bay Lightning, with participation from the Kraft Group and Roy P. Disney.
The company intends to use the funds to launch its safe chemistry into the fashion and textile industry and scale up production to meet global demand.
Founded in 2013 by experts Drs. Gregory Altman and Rebecca Lacouture, Silk has developed a natural chemistry platform based on patented Liquid Silk technology. The company’s sustainably produced Liquid Silk is biodegradable, biocompatible and an alternative to petrochemicals found in everyday consumer goods. Its cross-industry applications include apparel, where the company is teaming with fashion brands to replace synthetic finishing chemicals at commercial scale, and clinical-grade, minimal-ingredient skincare.
FinSMEs
18/10/2018