Natural Fiber Welding (NFW), a Peoria, IL-based developer of technologies based on the sustainable use of plants and natural fibers to obtain durable goods and textiles, raised $15M in funding.
The round was led by The Community Development Venture Capital Alliance (CDVCA), with participation from BMW i Ventures, Prairie Crest Capital, Ethos Capital, For Good Ventures, and Evolution VC Partners.
The company intends to use the funds to scale production and move into new markets like the automotive industry that need a sustainable solution to replace synthetic materials.
Led by Dr. Luke Haverhals, NFW provides technologies based on the sustainable use of plants and natural fibers for durable goods and textiles. The company’s patented plant-based leather MIRUM is suited to displace both animal leather and synthetic leather alternatives with materials that are plastic-free and high-performance.
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Allbirds is investing in a plant-based leather substitute, plans faux-leather shoe drop in December
The sustainability focused shoe maker Allbirds has taken another step to green its supply chain with a small $2 million investment in a new company called Natural Fiber Welding.
Announced this morning, the investment in Natural Fiber Welding will see Allbirds bring a vegan leather replacement option to customers by December 2021. It’s a natural addition for a company that has always billed itself as focused on environmental impact in other aspects of its apparel manufacturing.
Allbirds these days is far more than a shoe company, and Natural Fiber Welding’s products include a purportedly tougher cotton fiber made using the company’s proprietary processing technology and a plant-based leather substitute.