In Boston, a startup producing sustainable chemicals for apparel, personal care and medicine from natural silk proteins has raised $120 million to scale production.
The financing will advance global sales for Evolved By Nature’s Advanced Silk products, which can also replace petrochemical coatings used by the leather and textile industries. In the last year, the product has been adopted by fashion brands including Anya Hindmarch, nylon mills including Alpine Creations and Apex Holdings and leather tanneries including Richard Hoffmans GmbH & Co. KG, Cyclica Srl and Curtidos Bengala.
The funding also progresses the launch of Activated Silk skin barrier-enhancing ingredients in both brand-owned and third-party personal care products, which serve as natural replacements to fossil fuel derivatives like petroleum jelly and synthetic ingredients like retinoids. In parallel, Evolved by Nature will pursue the discovery of therapeutics that effectively improve the skin and treat often overlooked conditions.
The round coincides with the startup of Evolved By Nature’s new Walpole, MA manufacturing facility, which currently has the capacity to produce 150 metric tons of Activated Silk annually and will ramp up production volumes to 900 metric tons per year in 2024.