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Tuesday, August 18, 2015 5:48:44 PM
A quote from the Foundation Capital page discussing Bolt Threads:
That is the potential Foundation Capital saw when we led the Series A in 2011 with a $4 million investment and recruited Jerry Fiddler – Chairman of Solazyme, the first company to make commercial quantities of oil using algae – to join the board as an independent director. I have to tip my hat to Sue Levin, who was one of our key market diligence resources for that round, who called the Bolt Threads founders, her “spider guys,” and who now serves as Bolt Threads’ Chief Marketing Officer.
Three years later, we led the Series B funding. By that point, Bolt Threads was producing significant quantities of fiber. With the actual material in hand, we were able to bring on board a slate of new investors who were impressed with both the beauty of the technology and the strength of the Bolt Threads team.
They had actual silk fibers at least by your Post 82213 that stated that their initial product was dragline silk.
They are further than I had expected. The only thing now holding them back is the cost. After all, it was stated in a Recent Bloomberg Article:
Bolt’s fabrics may be expensive until the company can boost production over the next few years and drive down costs. “Almost all technology starts as a premium product,” Widmaier says. At least there won’t be spiders eating each other.
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