PurThread raises USD7 million in funding round to advance in textile market
In an announcement made today, PurThread Technologies said it had raised over USD7 million in its recent equity round. The funding round was led by its own board chairman, Richard Bodman. A select group of investor veterans who shared the company's mission to reduce environmental burden also participated in the round. According to the company's statement, the new funding would go towards research and development of PurThread's technologies and growth of the company in the textile market.
Bodman said, "The markets for PurThread's innovative technology and products are compelling. We are pleased to support the company's goal of continuously reducing the level of bioburden in hospital environments. Antimicrobial resistance is on the rise, leading hospitals to focus on additional ways to reduce the spread of infection. Just look at what has happened with the hand sanitizer market. We're excited about the expansion of PurThread's current product offerings and the promise of PurThread's research into future applications."
PurThread had produced textiles that are equipped with antimicrobial agents that reduces bioburden, or microbacteria levels on soft surfaces. This means that clothes and other clothing would not contract germs that causes odor due to combination of sweat and pollution.