Allbirds plans to expand to new materials with $17.5 million in fresh funds

You can’t walk outside your door in San Francisco these days without seeing some tech worker or VC wearing a pair of Allbirds. The eco-friendly wool shoes have taken over the tech world since the startup’s launch a mere 18 months ago. Now, it plans to expand globally and develop new materials beyond its signature merino wool.

Allbirds has a good amount of capital to go there as the company just raised $17.5 million for its Series B funding, adding a total of $27.5 million to work with now.

Tiger Global Management led the round and, as you may be able to tell from the hedge fund’s other bets, Allbirds intends to use those connections to spread its wings internationally.

Tiger Global has its fingers in several Asian countries, with affiliates in Hong Kong, Singapore, Bangalore…

Read Story