Natural Fiber Welding, Inc., a Peoria, IL-based company for material innovation, raised $85m from 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.
Luke Haverhals is the CEO and founder of NFW. NFW offers material innovation to the global footwear, fashion, accessory, and automotive markets with new material platforms. These platforms allow for low carbon, all natural, bio-neutral products. NFW engineers:
- CLARUS®, a family of high-performance, all-natural textiles; and
- MIRUM®, is the only next-generation, a zero-plastic complement to leather.
The company’s global customer base includes Alexander McQueen (MCQ), Pangaia, Bellroy, H&M, and Camper, among others.