Silk Therapeutics $11 million steps closer to launching liquid silk into apparel industry

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In Massachusetts, Silk Therapeutics, a specialty biomaterials company, closed on an $11 million Series A3 financing. This concludes a total of $21 million within Series A funding based on significant progress made by Silk Therapeutics in both the skincare and fabric spaces.

Rebecca Lacouture, Chief Operating Officer, Silk Therapeutics, said in their press release, “Liquid silk is a platform ingredient. It replaces emulsifiers, preservatives, and anti-bacterials — agents otherwise commonly used in both skincare and apparel -— and offers companies safer, more effective options to enhance the performance of everyday products in constant contact with the skin.”

This round was led by Jeff Vinik, the former manager of Fidelity’s Magellan Fund and owner of the Tampa Bay Lightning, and legacy investor, the Kraft Group, along with support from additional existing investors Roy P. Disney, Lear Corporation, and Altman Health Investments.