AMSilk GmbH, a Planegg, Germany-based company specializing in the development and production of high performance materials based on spider silk, completed a €5m Series B financing round.
Investors include MIG Fonds 6, MIG Fonds 7 and MIG Fonds 11, as well as AT Newtec.
The company intends to use the new capital to expand its development and sales efforts for its first spider silk-based products through partnerships with leading companies across major industries.
Founded in 2008 as a spin-off from the Technische Universität München and led by Managing Director Axel Leimer, AMSilk produces and processes SPIDERSILK biopolymers, which are copied from the proteins of web-weaving spiders and make possible a completely new set of technical products as well as major improvements for already existing products. According to the company they have particular properties including mechanical toughness, chemical resistance and biocompatibility – while being completely biodegradable.