Our spidey senses are rawness over here. According to an SEC filing, TechCrunch has schooled Bolt Threads, a biotech association spinning microbes into spider silk, is lifting a whopping $106 million in Series D financing.
Bolt Threads has been on a duration arise given it first told TC about a desirous try to make spider silk, a element stronger than teflon though softer than a cloud, and some-more abundant.
Sure, a thought of wearing mass-produced spider webs competence sound bizarre — and several entrepreneurs have attempted to do this before though success — though Bolt Threads has spun a unfit into bullion with a entrance of a initial object of clothing, a $314 necktie, progressing this year.
The association has given partnered with a likes of Patagonia and Stella McCartney, acquired a Best Made Company and lifted $90 million to assistance grow a Silicon Valley-based business.
It’s clearly now prepared for twice a spidey energy with another $106 million, if all goes well. According to a filing, a association has so distant been means to lift approximately $57 million in equity from prior investors Foundation Capital and Formation 8.
Should it get to a sum volume it seeks, that would give Bolt Threads $196 million lifted so far.
We’ve reached out to Formation 8, Foundation Capital and Bolt Threads for criticism and will be certain to refurbish this story as we accumulate some-more information.