Bolt Threads, an Emeryville, California-based developer of next generation textiles, raised $32.3m in Series B funding.
The round was led by Foundation Capital with participation from new investors Formation 8 and Founders Fund.
The company, which has raised a total of $40m, intends to use the funds to increase production of sustainable fibers and grow its team of technology and apparel experts.
Led by CEO Dan Widmaier, Chief Scientific Officer David Breslauer and Vice President of Operations Ethan Mirsky, Bolt Threads uses proprietary technologies to create Engineered Silk fibers based on proteins found in nature conducting research at its headquarters and using feedstock grown in the Midwest for production.
The company is also collaborating with textile manufacturers in North Carolina to commercially scale production.