Oros announced $14.5 million in a Series A funding round led by Elizabeth Street Ventures and Enlightenment Capital. Also participating in the financing are entrepreneur Thomas Tull, the chairman of Snap Inc., Michael Lynton, and Brandon Shainfeld, among others.
Oros, a materials technology and performance apparel brand created its patented SolarCore insulation in 2015 designed to transform advanced thermal materials into technical fabrics. Oros aims to create streamlined silhouettes that provide warmth in below-freezing temperatures.
Oros is working on a new, lightweight insulated material in 2022. The material, which will debut in an upcoming performance apparel collection, incorporates a suite of patents and exclusive rights to underlying NASA IP. The capital raised will it to refine the material, create new apparel products and invest in its new manufacturing facility outside Boston. The facility will allow Oros to convert recycled fiber into thermal performance fiber through 3D engineered knitting. The domestic manufacturing line will also enable its to customize machinery, equipment and engineering processes while consolidating the supply chain to sustainably scale production.
“Since day one, Oros has endeavored to transform insulated apparel, using only the best materials and technologies – some of which have been developed with exclusive access to NASA IP and have been used for their most demanding applications in space,” said Jeff Nash, Chief Technology Officer and VP of product, Oros.
In addition to the Series A round, Oros also announced Rachael Ulman’s appointment to its Board of Directors. Ulman, who has spent 20-plus years in digital retail, is a venture partner at Elizabeth Street Ventures and the founder and CEO of 27 Edge.
Industry veteran Hap Klopp will serve as a Board observer. Klopp acquired The North Face in 1968 and turned it into a global apparel business that he ran for 20 years.
Photo courtesy Oros