Oros, a Portland, Ore.-based technical outerwear model, has acquired $14.5 million in a Series A funding spherical led by Elizabeth Street Ventures and Enlightenment Capital. Also taking part within the financing are entrepreneur Thomas Tull, the chairman of Snap Inc.; Michael Lynton, and Brandon Shainfeld, amongst others.
The model is understood for utilizing revolutionary insulation expertise to rework thermal supplies into technical materials that it then makes use of for its attire assortment. Its web site touts its jackets because the warmest jackets on earth. In 2015, it patented Solarcare insulation, a cloth that’s primarily based on supplies utilized by NASA and protects in opposition to excessive chilly. In 2022, it’ll unveil a brand new, light-weight insulation product, as soon as once more primarily based on expertise utilized by the area company.
“Who would have thought that the same science used to insulate spacecraft at -450 degree Fahrenheit could keep you warmer than a bunch of goose feathers? Astronauts,” Oros writes on its web site. “NASA’s groundbreaking aerogel technology is the foundation of our patented Solarcore insulation. This earth-shattering material combines the unparalleled thermal properties of aerogel with the flexibility of foam to create the warmest, zero-bulk gear on the planet.” Its parkas retail for $480 or $440 and the model additionally presents jackets, vests, pants, leggings and equipment.
The capital will enable Oros to refine the brand new materials, create new attire merchandise and put money into a state-of-the-art manufacturing facility exterior Boston the place it’ll convert recycled fiber right into a thermal efficiency fiber and create clothes utilizing 3D engineered knitting, the corporate stated. The plant can even enable Oros to customise equipment, tools and engineering processes and sustainably scale manufacturing.
“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,” stated Jeff Nash, chief expertise officer and vice chairman of product at Oros. “I’ve been in the industry for decades, and Oros is completely doing things differently. I strongly believe we’re on the cusp of something groundbreaking: recreating the category of insulated products for the industry.”
At the identical time, Oros stated Rachael Ulman, a 20-plus-year veteran of digital retail, a companion at Elizabeth Street Ventures and founding father of 27 Edge, a consulting company, will be a part of its board of administrators.
“Since meeting Oros’ founders, Michael Markesbery and Rithvik Venna, several years ago, I’ve been amazed by the potential of their advanced materials science technology for the apparel and accessories market, but also for the broader insulation industry,” Ulman stated.
In addition, trade veteran Hap Klopp, who’s finest recognized for buying The North Face in 1968 and working it for 20 years, will function board observer.
“What energizes me about Oros is its unique approach to building products,” Klopp stated. “Oros is not imbued with the same beliefs that traditional outdoor companies hold, such as the idea that thicker outerwear means better outerwear. Oros has shifted the paradigm, owning an entirely new concept in which thinness can be equated with warmth. The brand’s ability to take an existing idea and flip it on its head is what excites me most about working with them.”