Japan’s Spiber secures 65 million dollar funding to scale Brewed Protein

Japanese biotech firm Spiber has announced the completion of a fundraising round through which it raised over 10 billion Japanese yen (64.7 million dollars) to support the mass production of its Brewed Protein material.

Developed over 15 years of research, the material utilises the cyclical nature of proteins in a microbial fermentation process with plant-based raw ingredients.

The result is a circular material that has already been put to use in collections by 15 domestic and international brands.

The latest funding naturally hopes to expand on this, with the company expected to inject the investment into strengthening its production system and R&D platform in order to meet the anticipated growth in demand.

In a statement issued to the press, co-founder, director and representative executive officer Kazuhide Sekiyama said the company was grateful for the continued support from investors, partners and financial institutions.

Sekiyama continued: “Despite the challenging fundraising environment for startups amidst the global economic landscape, we have been able to sustain our growth thanks to their recognition and expectations.

“We remain committed to the establishment and enhancement of the biotechnological foundations essential for realising a circular society, as well as fulfilling our responsibility for social implementation as a frontrunner in this sector.”