Spider silk and collagen fibers firm raises $700,000

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In Nova Scotia, a startup developing fibers from collagen and spider silk has raised $700,000 in an oversubscribed follow-on funding round. 3D BioFibR produces naturally sourced, high-value biofibers for use in biomedical engineering, green textiles, defense, and aerospace applications. The company’s dry-spinning process is faster than current manufacturing processes and preserves the natural properties of the biofiber proteins.  The company says it will use the funds to scale-up production and advance commercial partnerships. 

“We appreciate the continued confidence our investors have in the Company’s ability to advance our proprietary biofiber manufacturing process,” Kevin Sullivan, CEO of 3D BioFibR, says in a press statement. “As we continue to de-risk our manufacturing platform, our focus is now shifting to a higher level of engagement with industry to secure commercial partnerships, with our first focus on the tissue culture and tissue engineering applications.”

Participants included current investor Concrete Ventures and new investor Globalive Capital. The company raised $550,000 in October 2020, just months after being incorporated. It hopes to achieve commercial sales in the latter half of next year.