Oros, a Portland, Ore.-based apparel tech brand, $14.5m in Series A funding round.
The round was led by Elizabeth Street Ventures and Enlightenment Capital with participation from entrepreneur Thomas Tull, the Chairman of Snap Inc. Michael Lynton, and Brandon Shainfeld, among others.
Oros leverages NASA technology to develop advanced thermal materials and high performance, low impact apparel. The lightweight insulated material, launching in 2022, will debut in a new performance apparel collection that incorporates a suite of patents and exclusive rights to underlying NASA IP.
The recent capital raised will allow the company to further refine the new material, create new apparel products, and invest in a manufacturing facility in the U.S. The new manufacturing facility outside Boston, Massachusetts will allow them to convert recycled fiber into a novel thermal performance fiber, bringing to life a collection of garments using 3D engineered knitting. The domestic manufacturing line will also enable OROS to customize machinery, equipment, and engineering processes, while consolidating the supply chain in order to effectively and sustainably scale production.