Allbirds, a environmentally-focused woolen shoe manufacturer, has recently raised $50million in a series C financing, led by T. Rowe Price and Fidelity. This brings the total funding for Allbirds up to $75M.
Allbirds creates footwear from sustainable materials to promote eco-friendly fashion-forward styles. Some of the products sold by Allbirds include a eucalyptus tree pulp runner and sugarcane-based flip flops. The aim for the company is to lead through sustainability. To do this, Allbirds plans to utilize the capital raised to investigate alternative materials for the shoes, as well as launching into new markets. Currently, the company sells through e-commerce platforms but the company aims to launch a London-based store in the coming year.
Some Cyndx Finder Comparables (Private Companies):
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Sockwa develops light-weight, athletic footwear for sports and beachwear
Benjamins uses carefully selected materials to craft high-end, luxury shoes in small, limited batches
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