Bolt Threads is raising $106 million from Foundation Capital and Formation 8

Bolt Threads raised $106 million
By Sarah Buhr.

Our spidey senses are tingling over here. According to an SEC filing, TechCrunch has learned Bolt Threads, the biotech company spinning microbes into spider silk, is raising a whopping $106 million in Series D financing.

Bolt Threads has been on a meteoric rise since it first told TC about its ambitious endeavor to make spider silk, a material stronger than teflon but softer than a cloud, and more abundant.

Sure, the idea of wearing mass-produced spider webs might sound strange — and several entrepreneurs have tried to do this before without success — but Bolt Threads has spun the impossible into gold with the debut of its first item of clothing, a $314 necktie, earlier this year.

Read more at TechCrunch.

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