Credit: PACT
Cambridge-based firm raises £9m to support delivery of leather-like materials for the fashion, footwear, interiors, and automotive sectors
Cambridge-based biomaterials producer PACT has today announced it has raised £9m to develop its 'world first' natural collagen-derived materials at scale.
The successful seed funding round, which was joined by Hoxton Ventures, ReGen Ventures, Celsius Industries, and Polytechnique Ventures, means the company can now scale up production of its leather-like materials, invest in further biomaterial innovation, and bring new materials to the fashion industry and other sectors.
PACT said it was now looking to expand into new industries, including the footwear, interiors, and automotive sectors, while also developing a wider suite of biomaterials.
To enable the expansion, the company recently invested in a new 13,820 square foot headquarters in Cambridge, including a laboratory and pilot production facility.
PACT was founded in 2020 by scientist, engineer, and current CEO Yudí Ding in collaboration with physicist and engineer Niels Ramay, who serves as the company's COO.
"Our commitment at PACT is to craft beautiful, adaptable materials inspired by and derived from the natural world," said Ding. "We have poured energy and creativity into our innovations, ensuring they can meet the standards of the world's most prestigious brands and respect their heritage, whilst also being truly scalable. "By partnering with luxury maisons on these new foundational materials, we stand on the cusp of a new era of collaboration between science and elegance; one where sustainability is fused and suffused with beauty.
"Bringing these esteemed investors, who have deep connections to and understanding of the industry, on board will help us accelerate our progress to date, work with more client partners worldwide and unlock further biomaterial breakthroughs."
PACT uses patented processes to transforms natural, cosmetic-grade, collagen often used in high-end skincare and pharmaceuticals into collagen skins enriched with natural ingredients and enhanced with finishing techniques used in the leather industry.
The firm's biomaterial innovations are designed to be "drop-in solutions", meaning they do not require manufacturers to invest in new machinery or production technology. The company is currently working with firms in luxury fashion supply chains to ensure brands can embrace the material on a global scale.
The production of textiles and leather contributes 1.2 billion tonnes of CO2 equivalent per year. Pact claims its approach uses significantly less water while cutting CO2 emissions. It has calculated that replacing just one per cent of the current use of leather and synthetic-coated textiles would save 4.8 million tonnes of CO2e per year.
"The company's innovative biomaterial technology combines the aesthetics - such as touch, look, and refined ageing - of heritage materials, with high-performance and scalable economic production," said Charles Seely, general partner at Hoxton Ventures, who led the seed round. "This meets the rigorous demands of leading companies in luxury and beyond. We're excited to be part of their journey."
To support its efforts to industrialise the 'world first' collagen-based biomaterials, PACT has also announced a number of new hires, including Candice Koo, who joins as vice president of growth from French luxury design house Hermès, and Zuleyka Strasner, founder of California-based plastic-free grocery delivery platform Zero, who has been appointed vice president of strategy.
In addition, Dr Jason Camp, former CTO at bio-based product innovators Circa Group and chair of the Science and Enterprise Group at the Society of Chemical Industry, has joined as vice president of product development.
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