SMART SILK: An Emeryville, Calif.-based textile company called Bolt Threads, which has been operating under the radar for the past few years, announced itself to the world Thursday along with news it closed on a $32.3 million Series B round.
The round was led by Foundation Capital and also included Formation 8 and Founders Fund along with existing investors. The latest round brings the company’s total raised to date to $40 million.
Bolt said it’s engineered a way to re-create the silk production process of insects and spiders to produce a high-performance silk that could be, for example, machine washable or have a longer life than traditional silk.
The company said it plans to ramp up production and will bring on additional hires in the technology and apparel space.
