Spiber Raises Over JPY10 Billion for Mass Production of Fermented Proteins for Materials – vegconomist
Spiber Inc., a Japanese biotech “brewing” sustainable materials for the fashion, automotive, and personal care industry, announces it has raised over JPY10 billion (around $65M) from equity financing. Spiber has raised a total funding of $489 million over 9 rounds.
The funding, which included additional investments from existing shareholders, will allow the company to accelerate mass production of its innovative Brewed Protein materials and facilitate global sales.
Founded in 2007, Spiber uses precision fermentation and polymer and material science to develop protein-based alternatives to animal and petrochemical materials. Its polymers can be used to make spider silk, wool, cashmere, leather, fur, and more. The company already operates biomanufacturing plants in Thailand and is building another in Iowa, USA.
Kazuhide Sekiyama, Director and Representative Executive Officer of Spiber, comments: “We are grateful for the continued support and confidence from our investors, financial institutions, and partner companies who deeply understand the value of our technology platform, development materials, and business prospects.
15 years of research
Spiber’s Brewed Protein materials have been developed and refined over 15 years of research. They have been designed using the company’s proprietary technology platform, which focuses on genetic engineering and plant-based raw ingredients.
These materials, which include fibers, resins, and films, have a wide range of applications, with a primary focus on the apparel industry. Domestic and international brands — Yonetomi Seni, The North Face, GOLDWIN, nanamica, The North Face Purple Label, Woolrich, Cavia, Pangia, and others — have launched products featuring Spiber’s protein fibers.
In addition to fashion, Toyota Motor Corporation unveiled last year the “world’s first” vehicle with an interior made with Brewed Protein fibers. Shiseido Japan also launched the innovative material as a cosmetic ingredient in 2022.
He continues: “Despite the challenging fundraising environment for startups amidst the global economic landscape, we have been able to sustain our growth thanks to their recognition and expectations.”
A circular society
Spiber has also announced plans to expand its production system and R&D platform to meet the increasing demand and evolving market needs.
In addition to producing sustainable bio-based materials, the Japanese firm has launched a biosphere circulation project promoting biodegradable textile waste as a new material. Brands Kering, EILEEN FISHER, Johnstons of Elgin, and DyStar are among its new partners.
Sekiyama adds “We remain committed to the establishment and enhancement of the biotechnological foundations essential for realizing a circular society, as well as fulfilling our responsibility for social implementation as a frontrunner in this sector.”
