French Cultivated Leather Startup Faircraft Secures €15M to Meet Demand for Ethical Materials
France’s Faircraft, a cultivated leather startup based in Paris, announces it has raised €15 million to expand its team and scale up operations to meet the increasing demand for sustainable materials. Faircraft was founded in 2021 by CEO Haïkel Balti, an engineer in materials science, and biochemist César Valencia Gallardo. Leveraging cell biology and unique tissue engineering techniques, they aim to offer a new class of materials with a lower environmental impact, starting with “real leather without the animal.” Kindred Ventures (USA), Cap Horn (France), BPI France, Blue Wire Capital (UK), Sake Bosch (Netherlands), Entrepreneur First (UK), Alliance for Impact (France), and Heirloom (USA), backed the startup’s sustainable leather in this round. “Lab-grown leather represents a major evolution that goes far beyond the fashion industry …