Carbitex, a flexible carbon fiber composite manufacturer based in Kennewick, Wash., recently raised $3.3 million in funding. The funding round was led by longtime investor Michael Marks, the founding partner of San Francisco-based Celestea Capital and executive chairman of Carbitex. Other previous investors, including Minneapolis-based New Bound and individual investors, also participated in the round. The company, founded in 2012, has raised a total of $28 million to date.
Carbitex is known as an ingredient brand that sells its materials to partner brands in the footwear and luggage industries. These brand partners then integrate Carbitex’s flexible carbon materials into their products, which span across various categories such as running, cycling, soccer, watersports, snowboarding, and golf. The flexible carbon is customized for stiffness, response, size, and shape depending on the specific shoe model, intended use case, and other factors. Some of Carbitex’s partners in the footwear industry include Altra, Speedland, Lake, Scott, PAYNTR Golf, and FootJoy, while bag and accessory brands like Tumi, Pitaka, and Porsche Design also utilize their materials.
After going through a two-year restructuring effort, Carbitex saw founder Junus Khan return to lead the company as president. Additionally, new executive hires were made, bringing in Patrick Sinner as vice president of brand product development, Filippo Sartor as vice president of global sales, and Sam Gardner as vice president of engineering and operations. With these changes in leadership and organizational structure, Carbitex is aiming for significant revenue growth in the upcoming years, projecting a 5X increase in revenue for 2025 compared to 2024. The company’s growth is expected to come from both new and existing customers, as they continue to expand their partnerships and product offerings in various industries.
Despite being a relatively small company with only 14 employees, Carbitex has managed to establish a strong presence in the footwear and luggage markets through its innovative flexible carbon materials. By providing customized carbon fiber composites to partner brands, Carbitex has been able to influence product designs and performance across a wide range of categories. With a focus on quality, performance, and customization, the company continues to build partnerships with leading brands in the industry, further solidifying its position as a key player in the composite materials market. Through continued investment and strategic growth initiatives, Carbitex is poised to capitalize on new opportunities and expand its market presence in the coming years.
