UNCAGED Innovations, a biomaterials startup has raised an oversubscribed $5.6 million seed investment, co-led by Green Circle Foodtech Ventures and Fall Line Capital, with participation from Ponderosa Ventures, Golden Seeds and existing investor InMotion Ventures, the investment arm of JLR (Jaguar Land Rover).
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The investment will be used to bankroll the commercial launch of UNCAGED while continuing to ramp up production and its team, including its manufacturing team. The company fuses structural proteins from grains with other bio-based components to build fibral networks—a substitute for animal collagen necessary in traditional leather.
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Stu Strumwasser, Founder and Managing Director of Green Circle Capital, said: “What UNCAGED Innovations has achieved with its grain-based technology is a significant breakthrough in an industry that has long awaited a breakout innovation. The opportunity is enormous, and we believe that their ability to provide a high-quality material that is scaled and price competitive is a game changer.”
Eric O’Brien, Founder and Managing Director of Fall Line Capital, noted: “While others have attempted to replicate leather using various inputs, we felt the use of structural proteins to mimic collagen was transformational. We understand the margin pressure farmers face growing commodity grains, and we are constantly on the lookout for ways to help them capture more value from their production. By diversifying and applying greater value to agricultural streams, we can strengthen our farm systems and provide consumers with more sustainable goods.”
Stephanie Downs, CEO and Co-Founder of UNCAGED Innovations added: “Green Circle and Fall Line not only share our mission but also bring tremendous operational expertise. The tide has turned aggressively toward sustainable materials, and we plan to capture that momentum. This funding round brings UNCAGED another step closer to achieving our ultimate goal of disrupting every industry that relies on leather.”
About Uncaged Innovations
Headquartered in New York, Uncaged Innovations was co-founded by Stephanie Downs and Dr. Xiaokun Wang. Uncaged Innovations is a biomaterials start-up developing next-generation performance materials to replace bovine and exotic leather. Its own technology platform, called BioFuze, deploys roll-to-roll production techniques to make a substitute biomaterial touted to feel and act exactly like traditional leather.
