Fashion

Allbirds to use new 100 million dollars in funding to expand its physical network and diversify collections


New York – Over the weekend, U.S. sustainable footwear brand Allbirds
announced it has secured100 million dollars in new Series E Funding.

The investment round was led by asset management firm Franklin
Templeton, alongside T. Rowe Price, Baillie Gifford, TDM Growth Partners,
Rockefeller Capital Management, as well as additional new and returning
investors.

“Business can be a force for positive change, and this additional
capital will allow us to further our mission of bringing more sustainable
products to people around the world,” co-CEO Joey Zwillinger said in a
statement. “We have seen the power of collective action in response to the
global pandemic, and as we continue to grow we will push for a similar
united response to another universal threat: climate change.”

The company further explained that the funds will be used to expand its
product line into new categories, plus grow its international business and
build on its brick-and-mortar fleet. (The brand currently operates 21
stores in the United States, Europe, Asia and New Zealand.)

Since its launch in March 2016, Allbirds has raised more than 200
million dollars.



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