CINCINNATI, OH, OROS, a maker of high-tech outerwear, has secured $2 million in seed funding.
OROS, the company that uses NASA insulation technology, aerogel, in its outerwear, is taking off like a rocket with yearly 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 quickly built up its product line to include quarter-zips, beanies, fleeces and vests. In addition to the new 2017 products, the company is also announcing today that it has entered into a new financial relationship with the highly esteemed Silicon Valley Bank, the bank of the world's most innovative companies and their investors.
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 like Cabela's , which is using the insulation in its footwear.
In terms of financial growth and opportunity, OROS closed a $2 million seed round of funding from investors in Beijing and the U.S. and has entered into a financial relationship with Silicon Valley Bank in Palo Alto, CA. "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."
"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' gear has been sold in over 47 countries around the globe and the company is working with FEDEX to facilitate the logistics and help manage the international supply chain. After seeing a large spike in sales in various Asian markets last year, the company has also signed an international distribution deal with a South Korean distributor.
"We're very excited about the growth we have seen for our company. It is thrilling that our gear is being worn all over the world and helping people reach their peak performance. With our outstanding team and mentors, we will continue to disrupt the outerwear market. Our goal is to change the way you wear outerwear. We envision a world where you go outside on a cold day in nothing but a thin base layer and stay warm. That's what we're working toward. For now, we'll rid the world of bulky, immobile, and not-so-warm gear," Markesbery said.
To learn more visit www.orosapparel.com. You can also follow the company on Instagram and Facebook.
About OROS Apparel
OROS Apparel creates outerwear and apparel for outdoor adventures. The products feature innovative SolarCore aerogel insulation, the same type of insulation NASA uses to protect the Mars Rovers and spacesuits in the harshest environments. OROS' proprietary technology has allowed the company to make outerwear that is thinner, warmer and more flexible to help advance any of your adventures. For more information, visit www.OROSapparel.com
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