Aerogel-based Brand Secures Financing

OROS, the company that uses NASA insulation technology, aerogel, in its outerwear and beanies, has entered into a new financial relationship with Palo Alto, Calif.-based Silicon Valley Bank. The second-round funding follows OROS initial $2 million seed round of funding from investors in Beijing and the U.S.

“We are extremely excited to be working with an organization with the reputation, expertise and experience of Silicon Valley Bank,” said Michael Markesbery, CEO and co-founder, OROS. “This is a major opportunity for us to grow, learn and build out OROS and look forward to guidance from our partners at the Bank.”

OROS says it is experiencing growth of 300 percent since the company was founded with a Kickstarter campaign in 2015. OROS has expanded from its signature aerogel-insulated outerwear parka and built up its product line to include quarter-zips, beanies, fleeces and vests.

This fall OROS introduced a more extensive line of outerwear all featuring its patented form of aerogel, SolarCore. The NASA-inspired insulation is extremely warm, durable and flexible making the new quarter-zips, fleeces and vests perfect for winter adventures. In addition to the OROS use of SolarCore, the company has started distributing its SolarCore technology to other brands such as Cabela’s, which is using the insulation in its footwear.

“We are very excited to partner with OROS as the Company continues to grow,” said Dennis Grunt, Managing Director at Silicon Valley Bank. “OROS’ NASA inspired technology is a new, innovative approach to improve outerwear. We hope the partnership provides the best financing, connections and global services to help facilitate OROS’ success.”

OROS Orion Parka and beanie