Faircraft, a French startup focusing on lab-grown leather through cellular agriculture, has raised €15 million in a funding round led by investors including Kindred Ventures, Cap Horn, BPI, Alliance for Impact, and Entrepreneur First.
The capital will support scaling production, team expansion, and technological advancements to meet growing demand for sustainable leather alternatives.
For Haïkel Balti, co-founder and CEO of Faircraft “Lab-grown leather represents a major evolution that goes far beyond the fashion industry, and uses cutting-edge technologies to honour ethical considerations. It enables the creation of unique pieces with minimal environmental impact, while offering new possibilities to leather artisans and designers. This technological breakthrough is a tribute to the magic of life.”
Founded in 2021 by materials scientist Haïkel Balti and biochemist César Valencia Gallardo, Faircraft uses animal skin cells to replicate the structure of traditional leather, offering 90% fewer CO2 emissions, 95% less waste, and 80% less water usage compared to conventional leather, according to Faircraft.
Although production costs currently exceed those of traditional leather, the company is on track to reach price parity.
Read the orginal article: https://www.eu-startups.com/2024/11/paris-based-faircraft-raises-e15m-to-expand-lab-grown-leather-production/
