The corporate-backed synthetic silk producer increased its valuation to over $1.2bn in a round led by Carlyle Japan Partners.

Spiber, a Japan-based synthetic biomaterial developer backed by corporates Archer Daniels Midland (ADM), Toyoshima, Ebara, Toyota Boshuko and Dai-Chi Life, raked in ¥34.4bn ($312m) in funding today.

Private equity firm Carlyle led the round through its Carlyle Japan Partners fund and was joined by investment and financial services group Fidelity, Cool Japan Fund and Baillie Gifford. The round valued the company at over $1.2bn post-money.

Founded in 2007, Spiber produces synthetic silk and other materials using synthetic proteins with no…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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