In the Netherlands, lab-grown leather startup Qorium has raised $25 million to increase its production capabilities and continue to establish commercial partnerships in high-end fashion and automotive.
Qorium’s technology cultivates cells from cows to produce leather. Compared to conventional leather, Qorium’s product uses 99% less water and 66% less energy.
Participants in the Series A funding include government-owned fund Invest-NL fund and Limburg regional development agency LIOF. Brightlands Venture Partners, Sofinnova Partners, and a group of “high-net-worth individuals” also participated.
“Qorium’s leather is a breakthrough innovation that can transform one of the world’s most polluting industries,” Lisette Kersting-van der Boog, senior investment manager at Invest-NL, tells Green Queen. “By producing real leather without livestock, Qorium shows how biotechnology can build a more sustainable materials system.”