Spiber Inc. raises JPY 10 billion in latest funding round

Spiber Inc. a pioneering biomanufacturing startup, has announced the successful closure of a funding round exceeding JPY 10 billion. The fresh capital, bolstered by additional contributions from current shareholders, is set to propel the mass production and global distribution of Spiber’s revolutionary Brewed Protein™ materials, marking a stride forward in the pursuit of a circular economy.

The company’s groundbreaking Brewed Protein™, a material born from over a decade and a half of dedicated research, represents a new category of material officially recognized by the International Organization for Standardization (ISO). This recognition follows the ISO’s recent amendment to the definition of “protein fibre” in ISO2076, which now encompasses synthetically-produced proteins with a minimum content of 80%.

Spiber’s commitment to a sustainable future is evident in its utilization of advanced biotechnology to design proteins at the DNA level, which are then produced through a proprietary microbial fermentation process using plant-based ingredients. The company’s efforts have not gone unnoticed, garnering high praise from investors and consumers alike for the potential of Brewed Protein™ materials in meeting the growing demand for eco-friendly solutions.

To date, Spiber’s innovative materials have been adopted by 15 brands globally, reflecting the company’s robust production system and research and development capabilities. With the aim of fostering a circular economy in harmony with nature, Spiber continues to engage in numerous collaborations with apparel brands and other partners.

Kazuhide Sekiyama, the visionary leader and Representative Executive Officer of Spiber, expressed gratitude for the unwavering support from investors, financial institutions, and partner companies. Despite the challenging economic climate for startups, Sekiyama remains optimistic about Spiber’s growth and its role as a trailblazer in the biotechnological sector.

Mitsubishi UFJ Morgan Stanley Securities and Anderson Mori & Tomotsune have been instrumental in this equity financing round, serving as financial and legal advisors, respectively.

Spiber’s Brewed Protein™ materials are an innovative class of lab-grown, plant-based fibers, resins, films, and more, all produced through microbial fermentation. These materials stand as testament to Spiber’s proprietary technology platform, which allows for the custom design and molecular engineering of protein polymers inspired by nature. Offering versatile alternatives to traditional materials, Brewed Protein™ is poised to revolutionize the textile industry and beyond.

Founded in September 2007, Spiber Inc. is at the forefront of biotechnology startups in Japan. Leveraging state-of-the-art synthetic biology, polymer science, and material science, Spiber is dedicated to the development of its novel Brewed Protein™ materials, derived from plant-based sugars through microbial fermentation technology.

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