TLDR:
- UNCAGED Innovations raised $5.6 million in a Seed investment round for their sustainable leather alternative technology.
- The company’s technology platform, BioFuze, fuses structural proteins from grains into fibral networks that mimic traditional leather.
A biomaterials company, UNCAGED Innovations, recently announced that it has successfully raised $5.6 million in a Seed investment round. The funds are intended to support the commercial launch of the company’s grain-based sustainable leather alternative and facilitate the expansion of its team, particularly the manufacturing team. Founded in New York in 2020 by CEO Stephanie Downs and CTO Dr. Xiaokun Wang, UNCAGED has developed a technology platform called BioFuze, which utilizes structural proteins from grains to create fibral networks that replicate the performance and texture of traditional leather.
The company’s sustainable leather alternative boasts significant environmental benefits, emitting 95% less greenhouse gases, consuming 93% less water, and 72% less energy than traditional animal leather. Unlike some artificial leather products, UNCAGED’s alternative is entirely free of plastics. The company’s ultimate goal is to replace traditional cow leather from the livestock industry, which is a significant contributor to global greenhouse gas emissions and water consumption.
The recent funding round was co-led by Green Circle Foodtech Ventures and Fall Line Capital, with contributions from Ponderosa Ventures, Golden Seeds, and existing investor InMotion Ventures. This round follows a $2 million pre-seed investment last year, which included backing from VegInvest and InMotion Ventures. Stu Strumwasser, Founder and Managing Director of Green Circle Capital, highlighted the groundbreaking nature of UNCAGED Innovations’ grain-based technology and its potential to revolutionize the leather industry.
UNCAGED’s innovative approach to creating sustainable leather alternatives using grain-based technology has garnered significant attention and investment, positioning the company as a key player in the quest for more environmentally friendly materials.
