New York-based UNCAGED Innovations today announces it has raised an oversubscribed $5.6M Seed investment for its sustainable leather made from grains.
The round was co-led by Green Circle Foodtech Ventures and Fall Line Capital, with participation from Ponderosa Ventures, Golden Seeds, and existing investor InMotion Ventures, the investment arm of JLR (Jaguar Land Rover). This investment will be used to bring the product to market, increase production, and expand the team.
“This funding round brings UNCAGED another step closer to achieving our ultimate goal of disrupting every industry that relies on leather”
The latest capital follows the company’s 2023 pre-seed round in which UNCAGED secured $2 million. Director and Head of Sustainability at JLR Rossella Cardone commented at the time, “This is in-line with our strategy on the sustainability and provenance of the materials we use. We must embrace new material possibilities, new processes, and new technology and invest in sustainable material innovation.”
Reimagining materials to replace the skin of animals
Co-founded in 2020 by CEO Stephanie Downs and CTO Dr. Xiaokun Wang, UNCAGED Innovations fuses structural proteins from grains with other bio-based elements to create fibral networks, replacing the animal collagen required for traditional leather to supply the fashion, automotive and home goods industries. UNCAGED Innovations says it has already optimized the innovation to full-scale production.
UNCAGED combines “the power of nature and technology to reimagine leather” and says it is the first alternative leather company to successfully create sustainable leather from grains at scale. Combining its proprietary technology platform, BioFuze, with roll-to-roll manufacturing, UNCAGED states that its animal-free leather mimics the texture and performance of its animal counterpart.
Dispelling myths around leather
In an Op-Ed for vegconomist earlier this year, CEO and co-founder Stephanie Downs explained, “It’s important to point out that leather is a profitable co-product of the meat industry, so animal skins are sold and made into leather goods for profit, rather than waste reduction. 5% of the meat industry’s profit is derived from animal leather products, meaning buying animal leather products only drives demand for animals to be exploited and the environment to be destroyed.”
Commercial cattle farming is responsible for 14.5% of global greenhouse gas emissions, exacerbated by the tanning industry’s heavy use of chemicals and plastics.
A third-party life cycle analysis reveals that UNCAGED’s bio-based and plastic-free alternative significantly reduces environmental impact. This innovative material emits 95% less greenhouse gases, consumes 93% less water, and requires 72% less energy compared to traditional animal leather. Unlike synthetic leather, which relies entirely on plastic, UNCAGED utilizes plant collagen to produce a biodegradable and sustainable leather alternative.
Stu Strumwasser, founder and MD of Green Circle Capital, says: “What UNCAGED Innovations has achieved with its grain-based technology is a significant breakthrough in an industry that has long awaited a breakout innovation. The opportunity is enormous, and we believe that their ability to provide a high-quality material that is scaled and price competitive is a game changer.”
The tide has turned
Downs comments today: “Green Circle and Fall Line not only share our mission but also bring tremendous operational expertise. 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.”
Eric O’Brien, founder and MD of Fall Line Capital, adds: “While others have attempted to replicate leather using various inputs, we felt the use of structural proteins to mimic collagen was transformational. We understand the margin pressure farmers face growing commodity grains, and we are constantly on the lookout for ways to help them capture more value from their production. By diversifying and applying greater value to agricultural streams, we can strengthen our farm systems and provide consumers with more sustainable goods.”
Find out more at www.uncagedinnovations.com
