(Image Source: Allbirds)
Sustainable shoe brand Allbirds raised $100 million in their Series E funding round, led by Franklin Templeton. This brings the total capital raised since its March 2016 launch to $200 million.
This funding round has given the brand the support it needs as they continue to keep an “unwavering commitment to sustainable material innovation”. Allbirds is also looking to expand into new product categories after achieving astonishing results from the launch of its performance running shoe in April.
“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,” Allbirds co-founder and co-CEO Joseph 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.”