Allbirds to use new 100 million dollars in funding to expand its physical network and diversify collections

New York – Over the weekend, U.S. sustainable footwear brand Allbirds announced it has secured100 million dollars in new Series E Funding.

The investment round was led by asset management firm Franklin Templeton, alongside T. Rowe Price, Baillie Gifford, TDM Growth Partners, Rockefeller Capital Management, as well as additional new and returning investors.

“Business can be a force for positive change, and this additional capital will allow us to further our mission of bringing more sustainable products to people around the world,” co-CEO Joey Zwillinger said in a statement. “We have seen the power of collective action in response to the global pandemic, and as we continue to grow we will push for a similar united response to another universal threat: climate change.”

The company further explained that the funds will be used to expand its product line into new categories, plus grow its international business and build on its brick-and-mortar fleet. (The brand currently operates 21 stores in the United States, Europe, Asia and New Zealand.)

Since its launch in March 2016, Allbirds has raised more than 200 million dollars.