Portland, Oregon-based technical outerwear brand Oros announced Thursday that it has completed a $ 14.5 million Series A funding round. This funding will allow the company to invest in manufacturing capacity and further material innovation.
Founded in 2014, Oros is renowned for its patented Solarcore insulation launched in 2015 and is designed to keep the wearer warm below freezing, leveraging the airgel technology used by NASA. Created streamlined outerwear.
According to the company, it will invent a new lightweight insulation material to be launched in 2022 and debut in a new performance apparel collection. Like SolarCore, the new material “includes a set of patents and exclusive rights to the underlying NASA IP.”
The funds raised in the company’s Series A funding round will allow Oros to further refine this new material, devise new apparel products and invest in state-of-the-art manufacturing sites on the outskirts of Boston, Massachusetts. The new facility will allow the company to turn recycled fibers into thermal performance wear made using 3D engineered knits.
At domestic manufacturing sites, Oros enables Oros to customize machinery, equipment and engineering processes while consolidating supply chains to facilitate sustainable scaling of production.
“Since day one, Oros has sought to transform insulation apparel using only the best materials and technologies, some of which were developed with exclusive access to NASA IP and are the most demanding applications in space. Has been used in the company, “said the company’s chief executive officer. Jeff Nash, Technology Officer and Vice President of Products, has been released.
“I’ve been in the industry for decades, but OROS is doing something completely different. We strongly believe that we are at the forefront of something groundbreaking. Insulation for the industry. It’s about recreating the product categories, “he added.
Elizabeth Street Ventures and Enlightenment Capital led the funding round. This includes entrepreneurs Thomas Tull and Snap Inc.Chairman Michael Lynton, and Unilever Especially ventures.
With the end of the Series A round, Oros announced that Elizabeth Street Ventures venture partner Rachel Ulman has been appointed to the company’s board of directors. Ulman, founder and CEO of retail consultancy 27Edge, brings over 20 years of experience in digital retail to her new position.
Former North side CEO Happ Klopp, who acquired the outer brand in 1968 and led it for 20 years into a global apparel business, has also been appointed as a board observer.
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Technical outerwear brand Oros secures $ 14.5 million in funding
Source link Technical outerwear brand Oros secures $ 14.5 million in funding