Portland-based technical outerwear brand, Oros, has recently closed a successful Series A funding round, raising a total of $14.5 million. This new capital injection will allow the company to invest in expanding its manufacturing capabilities and to further innovate its materials. Oros, recognized for its patented Solarcore insulation, has developed a groundbreaking lightweight thermal material that is set to be released in 2022. This new material incorporates exclusive rights to NASA intellectual property (IP) and will be prominently featured in the company’s upcoming performance apparel collection.

The funds raised in the recent funding round will be utilized by Oros in several key areas. Firstly, the company will focus on refining and perfecting its new material. Additionally, Oros will develop new apparel products optimized to take advantage of the unique properties of the thermal material. Lastly, Oros will establish a cutting-edge manufacturing site near Boston, Massachusetts. This new facility will enable the company to fully leverage 3D engineered knitting and recycled fiber in the creation of its thermal performance wear. Furthermore, having a domestic manufacturing site will allow Oros to customize its machinery, equipment, and engineering processes, while also streamlining its supply chain for sustainable production scaling.

Jeff Nash, the Chief Technology Officer and VP of Product at Oros, highlighted the company’s commitment to transforming insulated apparel through the utilization of the best materials and technologies. Through its access to exclusive NASA IP and its application in demanding space contexts, Oros seeks to revolutionize the industry by redefining the insulated products category.

The funding round was led by Elizabeth Street Ventures and Enlightenment Capital, two prominent venture capital firms. It also attracted notable investors, including entrepreneur Thomas Tull, Snap Inc. Chairman Michael Lynton, and Brandon Shainfeld from Unilever Ventures. As a result of the successful funding round, Rachel Ulman, Venture Partner at Elizabeth Street Ventures and founder/CEO of retail consultancy 27 Edge, has joined Oros’ board. Ulman’s extensive experience in digital retail will provide valuable expertise to the company. Additionally, Hap Klopp, former CEO of The North Face and the individual who acquired Oros in 1968, has been named as a board observer.

Oros’ dedication to innovation, combined with its partnerships with leading investors and industry veterans, places it in a strong position for success in the competitive technical outerwear market. As the company continues to push boundaries with its new lightweight thermal material, consumers can expect groundbreaking advancements in insulated apparel. With solid funding and industry expertise backing them, Oros is poised for further growth and potential market domination.

Useful Links:
1. For more information on Oros and its innovative products, visit their official website [here](https://www.orosapparel.com/).
2. To stay updated on the latest news and developments in the technical outerwear market, check out this industry-leading publication [here](https://www.outsidemag.com/).