![]() After deploying increasingly advanced pilot processes in 20, we began ramping up in 2023. We’ll be using the new funding to accelerate our carbon removal deliveries. We’re proud that Lowercarbon, Exor Ventures, Kinnevik, Thrive Capital and Elad Gil also invested as part of the round. General Catalyst’s CEO and Managing Director Hemant Taneja will join our board alongside Ryan Panchadsaram from John Doerr’s office (also, authors of Speed and Scale). The firm is deeply committed to investing in ‘responsible innovation’ companies that can deliver outsized financial and societal returns. Our new funding was led by General Catalyst. □ Accelerating Carbon Removal with our $100m Series B The fundraise comes amid significant business momentum in the last year Shift5 more than doubled its annual recurring revenue (ARR), more than doubled its number of customers across Department of Defense (DoD) and commercial aerospace and rail sectors, and grew the rate of its platform deployments on commercial and DoD vehicles and weapon systems by 1,275%. Led by Moore Strategic Ventures, industry stalwarts across defense and commercial aerospace industries including Booz Allen Hamilton’s corporate venture capital arm, Booz Allen Ventures, and JetBlue Ventures, as well as Teamworthy Ventures, participated in the round, bringing the company’s total venture funding to $108 million. Shift5, the onboard data company, today announced it has raised $33 million in additional financing, bringing its Series B round to $83 million. Shift5 Draws Investors, Raises $33M in Funding to Unlock Onboard Data in Commercial and Military Fleets and Weapon Systems “By producing in micro-factories powered by Vega™, multiple traditional manufacturing steps-which result in high order quantities, long lead times, increased transport emissions, and excess inventory waste-are eliminated,” unspun explains. According to unspun, just a few minutes’ worth of finishing steps are needed to complete the process. The 3D machine is fed directly with yarn. It can weave a pair of pants to order in 10 minutes, from scratch. The 3D weaving machine is a robotics-enabled device inspired by additive manufacturing principles. The new round of funding will “support implementation of unspun’s innovative 3D weaving technology Vega™, which will help brands realize a zero-inventory, onshored, circular and automated supply-chain for woven products,” unspun reports. Between the custom fit and the high but relatively affordable price tag of $200 or so, presumably consumers would be motivated to keep their jeans practically forever. The company leverages 3D scanning to precisely fit jeans for individual buyers, and manufactures them on demand. Unspun launched in 2015 with an initial mission to help reduce waste at the consumer end. □ Unspun Unveils New 3D Weaving Machine For The Sustainable Microfactory Of The Future
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