In New York, a company converting seafood waste such as shrimp shells into leather alternatives has raised $4.15 million. Founded by textile researcher and designer Uyen Tran, TômTex’s material can be used in place of leather, suede, latex and vinyl. The funds will be used to increase production and add employees.
Investors included Happiness Capital, SOSV, Parley for the Oceans, and MIH Capital
“Investing in TômTex means investing in a scalable platform that has the potential to revolutionize industries while making a positive impact on our environment,” said general partner at Happiness Capital Eric Ng, one of the investors.