LUTZ | ABEL advises AMSilk on Series C financing of EUR 29 million
Munich — Amsilk has closed a Series C financing of EUR 29 million. The financing was led by Novo Growth, the growth equity arm of Novo Holdings, with participation from new investors Cargill and E.R. Capital Holdings, as well as existing investors MIG and Athos. With the funding, AMSilk aims to scale its global projects as well as internationalization. The aim is to reach new industries and customers.
Environmentally friendly and sustainable silk biopolymers
AMSilk is a leader in the production of high-performance organic silk materials with a vision to offer more sustainable products. The silk products are made from vegetable raw materials and are produced via bacterial fermentation. Thanks to their versatile properties, silk products are in demand in many industries, for example in high-performance sportswear and medical implants. The products are 100 percent recyclable and biodegradable. With the funding, AMSilk will accelerate industrial scale-up and reach new markets.
Kartik Dharmadhikari, partner at Novo Growth, said, “The technology has the potential to revolutionize a number of industries and be part of the decarbonization push needed to address the biggest environmental challenges of our time.”
Michael Motschmann, General Partner of MIG, added: “As an Amsilk Seed investor, we are proud of the great progress the company has made since its inception. Our continued investment in Amsilk reflects our vision to invest in early-stage biotech and deep tech companies and drive innovation that can advance the world.”
Advisor AMSILK: LUTZ | ABEL Rechtsanwalts PartG mbB
The consulting team around Dr. Bernhard Noreisch, LL.M. (lead) consisted of Jan-Phillip Kunz, LL.M. (both VC/M&A, Munich) and Dr. Marius Mann (Commercial, Stuttgart).
About LUTZ | ABEL
The commercial law firm LUTZ | ABEL advises on all aspects of commercial law with around 85 lawyers and offices in Munich, Hamburg, Stuttgart and Berlin.