Sustainable sneaker brand Allbirds brought in a $ 100 million Series E led by Franklin Templeton, with participation from T. Rowe Price, Baillie Gifford, TDM Growth Partners, Rockefeller Capital Management and other new and existing funders . The financing values the San Francisco-based company at $ 1.7 billion, according to the Wall Street Journal.
Launched in 2016, Allbirds creates its shoes and clothing from merino wool, eucalyptus fibers, recycled bottles and other materials. The startup operates 21 retail locations in Europe, Asia, New Zealand and the United States; it plans to use the new financing in part to continue its international expansion and to support the opening of more physical stores.
Allbirds, which is said to have Scooter Braun and Leonardo DiCaprio among its supporters, has now raised more than $ 200 million in private funding to date.
