A Denmark-based startup that produces plant-based eco-friendly alternatives to animal leather Beyond Leather Materials has raised €1.1 million in Series seed round funding from Rockstart and Vaekstfonden.
In a statement issued, the startup said, “The round was led by Angel Investor Steen Ulf Jensen via Jensengroup Investment Fund to further advance their production facilities.”
Founded by Mikael Eydt and Hannah Michaud in 2016, Beyond Lather Materials is a B2B supplier of sustainable alternative textiles based on apple pulp, the byproduct from juice, and cider production.
Speaking on the fundraise, Mikael Eydt, CEO & Co-founder of Beyond Leather Materials said, “We believe that we can deliver high value and sustainable leather alternatives that are based on fruit waste. We have been developing our animal-free product for 3 years, and with this funding, we are now able to set up our production line and enter the market this year.”
“At the core of Rockstart we aim to help reduce food loss and waste; Beyond Leather, Materials fits perfectly into this mission by upcycling food process by-product into high-end sustainable fashion textiles,” says Mark Durno, Managing Partner of Rockstart AgriFood.
“It was excellent to see the team progress so far during the accelerator, and ultimately access and build the investor consortium during the program. This is a perfect example of how we like to collaborate with startups, investors, mentors, and partners,” Mark added.
Adding to the statement, Jesper Hart-Hansen, Investment Manager at Vaekstfonden said: “We syndicate with investors and ambitious founders who want to develop companies with innovative and novel approaches to sustainability and a greener future. Beyond Leather Material is a strong case with great market potential. They offer a unique product with the potential to drive a real change in our society. The combination of a strong team, a novel product, and international investors is why Vaekstfonden has invested in Beyond Leather Material.”
“Hannah and Mikael are an exceptionally talented founder team. They have invented a unique patent-pending solution which solves a huge environmental problem caused by the production processes involved in producing animal leather,” Steen Ulf Jensen, Angel Investor in its statement said.
“The massive inbound interest in Beyond Leather Materials’ first product proves to me they are creating real value for both the fashion industry and increasingly conscious consumers,” Steen added.