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Uncaged Innovations raises USD 5.6 million in seed funding
Bio-based Materials
Jul 2, 2024
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Bio-based Materials

Bio-based Materials

Jul 2, 2024

Uncaged Innovations raises USD 5.6 million in seed funding

Funding

  • Uncaged Innovations, a New York-based manufacturer of plant-based leather, has secured USD 5.6 million in a seed funding round led by Green Circle Foodtech Ventures and Fall Line Capital, with participation from Ponderosa Ventures, Golden Seeds, and InMotion Ventures, Jaguar Land Rover's investment arm.

  • The funds will be used to facilitate the company's commercial launch, amplify its production capabilities, and expand its manufacturing team. Uncaged Innovations' eco-friendly process claims to reduce water usage by 93% and energy consumption by 72% compared to traditional animal leather.

  • Analyst QuickTake: In June 2023 , the company raised USD 2 million in seed funding led by InMotion Ventures to support the market entry of its bio-based leather. The company also claims it has optimized its process to full production scale and targets the fashion, automotive, and home goods industries.

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