PORTLAND, Oregon – (COMMERCIAL THREAD) –OROS today announced $ 14.5 million in a Series A funding round led by Elizabeth Street Ventures and Enlightenment Capital. Also contributing to the financing are the great visionary and entrepreneur Thomas Tull, the president of Snap Inc. Michael Lynton and Brandon Shainfeld, among others. An equal parts materials technology company and performance clothing brand, OROS uses the industry’s first insulation technology to transform advanced thermal materials into technical fabrics. The company’s emerging technology will usher in a new era for the $ 13 billion outerwear industry.
OROS’s mission is to advance the science of keeping warm. Their bold take on the potential of outerwear led them to take advantage of airgel technology to create their SOLARCORE® in 2015. SOLARCORE® protects against extreme environments. Instead of the chunky layers typically associated with the warmer outerwear, OROS aims to create streamlined silhouettes that keep you warm in subzero temperatures.
The brand’s scientific methods and countless iterations have resulted in a feat of engineering: the invention of a new lightweight insulating material launched in 2022. The material, which will debut in a new collection of performance clothing, incorporates a suite of patents and exclusive rights to the underlying. NASA IP.
The recently raised capital will allow OROS to further refine the new material, create new apparel products and invest in a state-of-the-art manufacturing facility in the United States. OROS’s proprietary technology has never been manufactured in this particular form before, which is why it is crucial that the brand produces the material itself. The new manufacturing facility outside of Boston, Massachusetts, will allow them to convert recycled fibers into a new high-performance thermal fiber, bringing to life a clothing collection using 3D knitting. The domestic manufacturing line will also allow OROS to customize machinery, equipment and engineering processes, while consolidating the supply chain in order to efficiently and sustainably increase production.
“From day one, OROS has strived to transform insulating garments, using only the best materials and technologies, some of which have been developed with exclusive access to NASA intellectual property and have been used for their applications. more demanding in space, ”said Jeff Nash, Chief Technology Officer and VP of Product at OROS. “I’ve been in the industry for decades and OROS does things completely differently. I firmly believe that we are on the cusp of something innovative: to recreate the category of insulation products for the industry.
In addition to Series A, OROS also announces the appointment of Rachael Ulman to the Board of Directors. Ulman, who has spent over 20 years in digital retail, is a corporate partner at Elizabeth Street Ventures and the founder and CEO of 27 Edge, a retail and consumer consulting agency.
“Since I met the founders of OROS, Michael Markesbery and Rithvik Venna several years ago, I have been amazed at the potential of their cutting edge material science technology for the apparel and accessories market. , but also for the insulation industry at large, ”Ulman said. “I am delighted to join the board of directors of OROS and to continue this adventure with them.
Additionally, industry veteran Hap Klopp is a board observer. Klopp is best known for acquiring The North Face in 1968 and turning it into a global clothing company that he ran for 20 years.
“What energizes me about OROS is its unique approach to construction products,” said Klopp. “OROS is not steeped in the same beliefs that traditional outdoor businesses do, such as the idea that thicker outerwear means better outerwear. OROS has changed the paradigm by having a whole new concept in which thinness can be equated with heat. The brand’s ability to take an existing idea and turn it around is what excites me the most about working with them.
OROS is a team of experimenters, visionaries and craftsmen united by a common vision of a future forged by unceasing curiosity and innovation. The founders of OROS bring a unique scientific perspective to the outerwear industry. As at home in a research lab as they are on the side of a mountain, they take advantage of emerging NASA technology to develop advanced thermal materials and high-performance, low-impact clothing that enables humans to experience our world without a hitch. For more information visit www.orosapparel.com.