OROS outerwear collection. OROS.
The Oregon-based brand known for its technical insulating fabrics plans to use the funding to refine and scale manufacturing of a new material.
The company said it will invest in a manufacturing facility in the US to convert recycled fibres into a new lightweight insulated material launching in 2022.
The funding round was led by investment firms Elizabeth Street Ventures and Enlightenment Capital. Other investors include the chairman of Snapchat Michael Lynton and entrepreneur Thomas Tull.
The company also announced the appointment of Elizabeth Street Ventures partner Rachel Ulman to its board of directors. Hap Klopp, who ran North Face for 20 years, will also serve as board observer.