Funding round completes restructuring at Carbitex
Flexible carbon fibre composites developer Carbitex has closed a new funding round, describing this as the culmination of a two-year effort to restructure the company.
It has projected revenue growth for 2025 and says it is now set to expand its presence in the global marketplace.
At the end of the funding round, Carbitex said most of the new capital had come from long-time investors, including executive chairman, Michael Marks, who has 40 years’ experience of leading technology companies, including Flextronics and Tesla.
He said: “Carbitex has made significant progress, assembling a capable team and laying a solid foundation for future growth. I’m confident the company is set for an exciting future.”
After returning to an operational role as Carbitex’s president in 2023, founder, Junus Khan, led the company’s restructuring, including the appointment in 2023 of Patrick Sinner as vice-president of brand product development, of Filippo Sartor as vice-president of global sales, and of Sam Gardner as vice-president of engineering and operations earlier this year.
Carbitex’s patented materials are integrated across multiple footwear categories including running, cycling, soccer, water sports, snowboard, and most recently, golf. The company partners with leading shoe brands including Altra, Speedland, Lake, Scott, PAYNTR Golf, and FootJoy, as well as bag and accessory brands Tumi, Pitaka, and Porsche Design.
