Faircraft Secures €15 Million in Series A Funding to Scale Lab-Grown Leather Production

Faircraft, one of the first companies that specialize in lab-grown leather, has brought in €15 million in Series A funding. Raising this funding from a diverse pool of international investors, the UK saw investment from Entrepreneur First and Blue Wire Capital. Other investors who have invested are Kindred Ventures and Heirloom from the USA, Cap Horn, BPI, and Alliance for Impact from France, and Sake Bosch from the Netherlands. The funding will allow Faircraft to expand their team and upscale innovative production processes for lab-grown, sustainable, quality leather, which is said to be in high demand.

Faircraft, which was founded in 2021 by Haïkel Balti and César Valencia Gallardo, combines materials science with biology as a means of paving the way to sustainable alternative leather, surpassing the needs of traditional animal leather. Backed by a multinational team of 20, with nine PhDs, the company is dedicated to producing the best leather in functionality and quality, otherwise unmatched by conventional alternatives. More importantly, Faircraft focuses on maintaining the aesthetic and tactile aspects of leather for luxury fashion brands.

Steps included in Faircraft’s lab-grown leather include cell sourcing, cultivation, scaffold structuring, and then traditional tanning. The outcome is a material that matches animal leather in appearance, texture, and durability but resolves environmental and ethical concerns about the raising of animals. Faircraft can tailor the leather for specific applications, whether to attain luxury, durability, or lightweight performance, making it stand out in the marketplace.

At a lab, Faircraft’s produce their leather sustainably and very efficiently. It reduces the CO₂ emissions by 90% and waste by 95%. Water usage is 80% less water in the production than traditional leather. Furthermore, lab-grown leather is produced so much faster that a single square meter of lab space can generate 100 square meters of leather; this contrasts with the land and time required to farm cattle. That efficiency supports global climate goals and conserves natural ecosystems.

Luxury brands are already eyeing the product of the company, eager to show their dedication to sustainability without sacrificing quality. It partners with master tanneries who, in reputation and history, have always been known for handcrafting incredible luxury leather goods to ensure Faircraft meets the highest standards. Combining the innovative technology with the best of traditional craftsmanship, Faircraft offers a product respectful of heritage and the environment.

Lab-grown leather is gaining traction due to increasing ethical and environmental concerns surrounding animal agriculture. Faircraft’s CEO, Haïkel Balti, recognizes these challenges and highlights the advantages of lab-grown leather in addressing them. The global leather industry relies heavily on animal hides, which come with significant environmental costs, such as deforestation, methane emissions, and excessive water consumption. By offering an alternative that reduces these impacts, Faircraft is poised to disrupt the leather market.

Along with offering environmental benefits, Faircraft’s method helps out local industries. It’s closely collaborating with traditional leather artisans, so that the skills would never be lost in thin air but put into use. Thus, it’s exactly where advanced technology can be teamed with old-time craft to deliver a sustainable solution both to the environment and to local communities.

Faircraft isn’t just thinking of a sustainable product. It’s the new realm of opportunities for designers, artisans, and consumers. Enabling brands to create unique products with minimal environmental impact, Faircraft offers customizable, eco-friendly alternatives to leather. So far, the company claims its innovation will revolutionize the leather industry to usher in a future that matches sustainability and quality.

With the support of its Series A funding, Faircraft will expand operations, grow the team and scale production for the increasing demand for sustainable alternatives in the fashion industry. The breakthrough the company has made in lab-grown leather marks a significant step in moving toward a more sustainable and ethical future for the leather market and beyond.