Bolt Threads

Overview
Bio-based Materials?
Beauty Tech?
Product stageSegments
Growth
?
Bio-based leather, Bio-based textile materials
?

Bolt Threads manufactures vegan “spider” silk and mycelium-based materials. Bolt Threads develops isolated silk proteins from proteins inspired by spider silk through a yeast fermentation process. The company’s Microsilk products are sold under its clothing brand, Best Made Co. The company has also developed another biomaterial using mushroom-based mycelium, an alternative leather product branded as Mylo, which was expected to be produced on a larger scale. 

In September 2021, Bolt Threads announced its plans to produce Mylo on a commercial scale by the end of 2022 and expected to collaborate with mushroom farmers to heighten its mycelium crops. Though the company reported halting production of Mylo in June 2023 due to inflationary pressure and lack of funding, in October 2023, the company announced entering a SPAC deal to go public on the Nasdaq. 

For its Microsilk product, Bolt had a production capacity of 32,000 sq ft per annum as of 2018. Since Microsilk remains significantly more expensive than traditional silk, the founders were seeking ways to scale up. 

Key customers and partnerships

For its Microsilk product, Bolt Threads launched its first collaboration in 2017 with fashion designer Stella McCartney and introduced its second prototype in the form of a biodegradable tennis dress.  

The leather alternative Mylo has been used in collaborations with Stella McCartney, Seattle-based leather bag manufacturer Chester Wallace, and Canadian athletic apparel retailer Lululemon. In October 2020, the Mylo Consortium was also formed including Adidas, Stella McCartney, Kering, and Lululemon, who collectively have made a seven-figure investment into Bolt Threads to produce Mylo. In return for their investments, these brands would have access to a large supply of the product. 

Stella McCartney has been experimenting with Mylo to create clothing prototypes with plans to use the material in upcoming collections. Adidas used Mylo to produce high-performance footwear for the first time in April 2021 by making a vegan version of its “Stan Smith” sneaker design that dates back to 1965 and had plans to expand the use of Mylo material in its other products including handbags, wallets, shoes, jackets. In February 2022, Lululemon launched a Mylo-based yoga bag collection, which included a multipurpose yoga bag and a storage bag for workout gear. Mylo was also used by Danish luxury brand Ganni for the launch of its limited edition Mylo-based wallet range and one-of-a-kind saddle-bags in June 2022. Ganni’s partnership with Bolt Threads included plans to release more Mylo-based products in Q1 2023. With growing demand for its Mylo product, in February 2022, the company partnered with Mycelium Materials Europe (MME) for the commercial production of Mylo but had not been able to materialize its plans.

Funding and financials

The company’s last funding round was a USD 123 million Series D in January 2018 led by Baillie Gifford. The funds were used to commercialize the company’s Microsilk products.

HQ location:
5858 Horton St. Suite 400 Emeryville CA USA
Founded year:
2009
Employees:
101-250
IPO status:
Private
Total funding:
USD 334.1 mn
Last Funding:
USD 115.0 mn (Series E; Sep 2021)
Key competitors
 
Loading...
Loading...
Loading...
Loading...
Product Overview
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
Product Metrics
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
Company profile
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...
-
Loading...
Loading...
Loading...
Loading...

EDGE Insights

From virtual makeup to robot-powered nail art: Navigating the beauty tech landscape
Sustainable Fashion
Bolt Threads: Revolutionizing the fashion industry with mycelium and spider silk
Mid-Summer Sustainability Wrap - Climate change sharpens focus
Zymergen's IPO Puts Sustainable Biomanufacturing In The Spotlight

Recent Updates

Listing
Oct 4, 2023
Bolt Threads to go public via SPAC deal
Bio-based Materials
Product updates
Jun 30, 2023
Bolt Threads to halt production of mycelium-based material Mylo
Bio-based Materials
Product updates
Partnerships
May 23, 2022
Stella McCartney to launch its mycelium-based bags in July 2022
Bio-based Materials
Partnerships
Feb 28, 2022
Bolt Threads partners with Mycelium Materials Europe to produce Mylo at a commercial scale
Bio-based Materials
Product updates
Feb 9, 2022
Bolt Threads launches Mylo-based yoga bags for Lululemon
Bio-based Materials
Product updates
Partnerships
Jul 8, 2021
Bolt Threads partners with Lululemon to create yoga accessories from mushroom leather
Bio-based Materials

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
arrow
menuarrow
Click here to learn more
Get a demo

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.