LUTZ | ABEL advises AMSilk on Series C financing of EUR 29 million

Photo: Products from Amsilk
20. May 2021

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).

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.

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