In New York, alternative leather company Uncaged Innovations has raised $5.6 million in a seed round. The funds will be used to support commercial launch and expand both production and staffing.
The company uses proteins from grains and other biobased feedstocks to create fibers that mimic animal collagen in traditional leather. It has already partnered with Jaguar Land Rover for alternative material for automotive interiors.
The funding was led by Green Circle Foodtech Ventures and Fall Line Capital. Ponderosa Ventures, Golden Seeds, and existing investor InMotion Ventures—the investment arm of Jaguar Land Rover—also participated.
“Green Circle and Fall Line not only share our mission but also bring tremendous operational expertise,” Stephanie Downs, CEO and co-founder, Uncaged Innovations said, according to Global Ag Investing. “The tide has turned aggressively toward materials that are sustainable, and we plan to capture that momentum. This funding round brings UNCAGED another step closer to achieving our ultimate goal of disrupting every industry that relies on leather.”