US' VitroLabs raises $46 million for cell cultivated leather

The series A funding is led by Agronomics; other investors include Bestseller’s Invest FWD, global luxury group Kering, Khosla Ventures, actor and environmentalist Leonardo DiCaprio, New Agrarian, and Regeneration.VC. In addition, Kering continues its partnership with VitroLabs in bringing support for product quality testing, tanning, and finishing, the company said in a media statement.

CEO Ingvar Helgason co-founded VitroLabs with the mission to create the highest quality materials that meet the uncompromising standards of the luxury industry while drastically lowering environmental impact and furthering animal welfare.

Last fall, VitroLabs moved into its new, 45,000 square foot facility, designed for pilot production and laboratory space as the company moves from the bench towards commercialisation. Series A funding will be used to fast-track commercialisation, with expansion of scientific, manufacturing, and business development teams.

“At a time when environmental stewardship is more important than ever, biotech companies have the opportunity to lead the way in changing how we produce materials and build supply chains, working hand in hand with existing artisans and craftspeople who are the cornerstone of the $400 billion leather goods industry. By launching the first production of cultivated leather, we’ll hit a major milestone in fulfilling our mission to lead the shift towards a more sustainable future,” Helgason, said in a statement.

“At Kering, a chapter/pillar of our sustainability roadmap is dedicated to sustainable innovation and actively looking for alternative materials that can reduce our environmental impact over the long term is part of the solutions we have been exploring for years. We believe that innovation is key to addressing the sustainability challenges that the luxury industry is facing, which is why we are very interested in the potential of biomaterials such as cultivated leather,” Marie-Claire Daveu, chief sustainability and institutional affairs officer at Kering, said.

“There has been an explosion of companies that are developing alternative materials to leather. However, at VitroLabs, our cultivated animal leather preserves the biological characteristics that the industry, craftsmen, and consumers know and love about leather, while eliminating the most environmentally and ethically detrimental aspects of the conventional leather manufacturing process associated with its sourcing,” Helgason, added.

“Over the last two years, we have been laser-focused on pushing our tissue engineering platform in order to increase efficiency and to optimise tissue production to obtain the look, feel, and performance of traditional leather at scale.  With several major breakthroughs in the areas of bioreactor design, bioprocess and facility design, and cell culture development, we are now on our way to a scalable process that delivers the desired premium qualities, forging a path towards the ultimate goal of industrialisation,” co-founder and stem cell scientist, Dusko Ilic, said.

ALCHEMPro News Desk (GK)