What's Happening?
Dutch biotechnology company Qorium has raised €22 million in a series A funding round to advance its lab-grown leather technology. Led by Invest-NL and LIOF, the investment aims to scale Qorium's operations
and expand its Maastricht facility. The company, which uses animal cells to create leather without livestock farming, seeks to reduce environmental impact and waste. Modern Meadow, another leather alternative producer, has partnered with Melina Bucher to launch handbags made from Innovera Suede, a plant-based material.
Why It's Important?
Qorium's funding represents a significant step in transforming the leather industry towards sustainability. By eliminating the need for livestock farming, Qorium's technology addresses ethical and environmental concerns associated with traditional leather production. The investment reflects growing interest in sustainable materials, which could influence industry standards and consumer choices. Modern Meadow's collaboration with Melina Bucher further highlights the shift towards innovative, eco-friendly fashion solutions, potentially setting new benchmarks for luxury brands.
What's Next?
Qorium plans to appoint a new director to its board and expand partnerships for its lab-grown leather. The company aims to increase production capacity and commercialize its technology further. Modern Meadow's handbag collection will be available soon, showcasing the potential of animal-free materials in high-end fashion. As sustainability becomes a priority, more brands may adopt similar technologies, driving industry-wide change and encouraging investment in eco-friendly innovations.
