Natural Fiber Welding, Inc., a Peoria, IL-based material innovation company, raised $85m in Series B funding.
The round was led by Evolution VC Partners with participation from Tattarang, Lewis & Clark AgriFood, Collaborative Fund, AiiM Partners, Engine No.1, Raga Partners, Tidal Impact, Scrum Ventures, and Gaingels and return investors BMW i Ventures, Ralph Lauren Corporation, Advantage Capital, and Central Illinois Angels.
The company is using the funds to continue scaling the CLARUS® and MIRUM® materials platforms and extend its product offerings to molded composite materials.
Founded in 2015 by Luke Haverhals, CEO, NFW is a material innovation company providing the global footwear, fashion, accessories, and automotive industries with new material platforms to create low carbon, all natural, bio-neutral products. NFW engineers and manufactures:
- CLARUS®, a family of high-performance, all-natural textiles; and
- MIRUM®, the only next-generation, zero-plastic complement to leather.
The company’s global customer base includes Alexander McQueen (MCQ), Pangaia, Bellroy, H&M, and Camper, among others.