Skincare brand Silk Therapeutics has secured $6m in a series A round featuring Lear Corporation and existing investor Kraft Group.
US-based skincare brand Silk Therapeutics has closed a $6m series A2 round led by diversified conglomerate Kraft Group that also included car component manufacturer Lear Corporation.
Venture capital firm Highland Consumer Partners also invested, as did family office Summer Road, BML Group, private investors Sheri and Roy Disney, and Altman Health Investments, the seed fund run by Silk Therapeutics co-founders Greg Altman and Rebecca Horan.
The company uses silk proteins to enhance the effectiveness of a range of branded skincare products it sells online. The funding will be used to expand its product range and explore new consumer markets.
Silk Therapeutics has now raised approximately $10.3m since it was founded in 2014, including $2m in series A1 funding from Kraft Group in April 2015.
Greg Altman, Silk’s CEO, said: “We now have the capabilities and team in place to advance our research and expand our product offerings, while educating the market and demonstrating the benefits of pure silk.”
