Faircraft, a pioneer of lab-grown leather using unique and patented tissue engineering techniques, has announced a $15.8 million fundraising round. The round was backed by internationally-renowned investment funds, including Kindred Ventures (USA), Cap Horn (France), BPI (France), Sake Bosch (Netherlands), Entrepreneur First (UK), Alliance for Impact (France), and Heirloom (USA). This funding will enable Faircraft to expand its team, notably by recruiting more engineers and biologists, and accelerate its efforts to scale operations and meet growing demand.
Faircraft is developing lab-grown leather that leverages cellular biology to create materials for a wide range of uses with a low environmental impact. The start-up develops lab-grown material derived from animal skin cells that replicates the structure and composition of traditional leather through cellular agriculture processes. Inspired by the medical and cosmetics industries, this material is genuine leather, made in a lab. Embracing traditional leather goods craftsmanship, Faircraft also relies on master tanners specializing in luxury leather goods to perfect the finishing of this sustainable leather.
"Lab-grown leather represents a major evolution that goes far beyond the fashion industry, and uses cutting-edge technologies to honour ethical considerations," said Haïkel Balti, co-founder and CEO of Faircraft. "It enables the creation of unique pieces with minimal environmental impact, while offering new possibilities to leather artisans and designers. This technological breakthrough is a tribute to the magic of life."
"The luxury market is built on tradition timeless craftsmanship, unmatched quality, and a commitment to excellence," said Kanyi Maqubela, Managing Partner of Kindred Ventures. "Leather has long been the cornerstone of the fashion industry, valued for its timeless appeal and durability but its production comes with steep environmental costs. Faircraft's lab-grown leather is a breakthrough for brands and consumers who refuse to compromise between quality and sustainability, and we're proud to support them as they scale operations and bring this revolutionary product to market."
A Luxury Market Opening Its Doors to Innovation
Known for its steadfast commitment to tradition, the luxury market is now increasingly embracing innovation to harmonize premium materials with environmental values. Faircraft is already working with major luxury brands, offering lab-grown leather that delivers significant aesthetic and environmental advantages over traditional leather: 90% fewer CO2 emissions, 95% less waste, and an 80% reduction in water consumption.
A Unique Manufacturing Process
Faircraft's development and manufacturing laboratories are located at its Paris headquarters. The company has developed a proprietary, standardized process suited to scalability, conceived and implemented entirely in-house. Faircraft holds two international patents for its innovative and protected production method, ensuring that customers benefit from rare expertise. While the cost of manufacturing Faircraft's lab-grown leather is currently higher than that of traditional leather, the company is on a clear trajectory toward achieving price parity with leather used widely in industry. Through its developments, Faircraft embodies technological excellence paired with the French heritage of premium materials.
A Strong and Diverse Team
Within its team, Faircraft includes a 20-member team of experts specializing in applied research and industrialization, with rich experience in project management. The team consists predominantly of engineers and scientists of eight different nationalities, including nine PhD holders.
About Faircraft
Faircraft was founded in 2021 by Haïkel Balti, an engineer in materials science and an alumnus of Arts et Métier and Georgia Tech, and César Valencia Gallardo, holder of a PhD in Biology and specializing in Biochemistry and Cellular Biology. Faircraft brings together a diverse, international team of scientists and engineers, including nine PhD holders. Faircraft's holds multiple patents for its procedure to produce lab-grown leather, and the process is aimed at scalability, offering a sustainable alternative to the fashion and leather goods industry.
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