Portugal news - Portuguese startup Corium Biotech has just raised 500,000 euros pre-seed funding to produce lab-grown leather that will revolutionize the luxury fashion industry.
The funding round was led by biotech incubator Biotope by VIB and Portugal Ventures, the state-backed venture capital arm dedicated to projects in R&D, sustainable infrastructure and social investment.
Portuguese biotech startup, Corium Biotech, has developed a groundbreaking technology to produce luxury lab-grown exotic leather for the designer fashion industry.
The funding raised by the Portuguese textile biotech company will be used to support the company’s scaleup strategy through partnerships with luxury brands and designers, while enhancing the development of new lab-grown exotic leather variants and recruiting additional biotech and scientific staff.
“The Porto-based company is developing a cruelty-free cell-based product to replace exotic skins for the luxury fashion sector. The startup expects to validate the proof of concept for the industrialization phase by early 2026” stated WWD magazine about the global sustainability scene in textiles and fashion in its October 9, 2024, edition.
“We are thrilled to have the support of such key investors as we take the next big step in advancing our technology” said co-founder and CEO Maria João Maia.
“This funding will be instrumental in accelerating our R&D efforts and bringing our sustainable lab-growth exotic leather to market. We are excited to push the boundaries of biotech and redefine the future of luxury materials,” stated co-founder Margot Muller.
Maia and Muller cofounded Corium Biotech in 2020 with the aim of creating a high-quality leather alternative to exotic skins by harnessing cutting-edge cellular agriculture techniques. The company aims to revolutionize the fashion and luxury industries while reducing the environmental and social impact of exotic leather use.
The ground-breaking lab-grown leather developed by Corium Biotech, that is incubated at UPTEC at the University of Porto, respects both the environment and animal wellbeing.