Funding round
Spiber Growth
Reported as "Growth Equity"
Spiber, which works in protein fiber material development in Tsuruoka, raised $65M in a Growth round announced on 12 Apr 2024, led by The Longevity Fund, at a $900M post-money valuation. 4 firms took part. It is Spiber's third venture round on record; the one before was a Growth in Sep 2021.
$65M
Amount raised
$900M
Post-money valuation
$835M pre-money
4
Investors
1 lead
0.7x
Step-up from the Growth
$1.21B in Sep 2021
7.2%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Spiber at $900M after the new money, 0.7 times the $1.21B of its Growth (Sep 2021). The $65M bought investors about 7.2% of the company. It came 31 months after Spiber's Growth. It is 15% of the $421M Spiber has raised in the venture rounds on record. No later venture round is on record for Spiber.
Investors
Who put money in
The Longevity Fund led the round with 3 other firms.
Lead investor
- The Longevity Fund new investor
Also in the round
- SPARX Group new investor
- Marunobu new investor
- backs 48 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
25 Growth rounds in Chemicals within a year either side disclosed an amount; the median was $56M, and this round was 1.2 times the median. The closest in time, other companies' Growth rounds in Chemicals:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Chemicals | 21 May 2024 | $163M | not disclosed | Novo Holdings and A.P. Moller Holding |
| Chemicals | 16 May 2024 | $47M | not disclosed | not named |
| Chemicals | 14 Mar 2024 | $27M | not disclosed | not named |
| Chemicals | 15 Feb 2024 | $150M | not disclosed | HAL Investments |
| Chemicals | 23 Feb 2024 | $71M | not disclosed | Barclays Sustainable Impact Capital |
| Chemicals | 25 Jun 2024 | $69M | not disclosed | Decarbonization Partners |
| Chemicals | 27 Jun 2024 | $65M | not disclosed | Temasek and Main Sequence |
| Twelve Chemicals | 19 Sep 2024 | $400M | not disclosed | TPG |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Spiber raise in its Growth round?
Spiber raised $65M in its Growth round, announced in Apr 2024.
Who led Spiber's Growth round?
The Longevity Fund led it, with SPARX Group, Marunobu and Mitsui Global Investment.
What was Spiber's valuation at the Growth round?
$900M post-money ($835M pre-money).
How does it compare with other Growth rounds in Chemicals?
25 Growth rounds in Chemicals within a year either side disclosed an amount; the median was $56M, and this round was 1.2 times the median.