TEXTILES.ORG
Faircraft, a Paris, France-based technology start-up that specializes in creating lab-grown leather, has announced a $15.8 million fundraising round. The round was backed by investment funds, including Kindred Ventures in the U.S.; Cap Horn in France; BPI in France; Sake Bosch in the Netherlands; Entrepreneur First in the U.K., Alliance for Impact in France and Heirloom in the U.S. This funding will enable Faircraft to recruit more engineers and biologists for its team, and accelerate its efforts to scale operations and meet growing demand.
Faircraft is developing lab-grown leather using its patented technology that leverages cellular biology to create materials with a low environmental impact. The start-up develops lab-grown material derived from animal skin cells that replicate the structure and composition of traditional leather through cellular agriculture processes.
“Lab-grown leather represents a major evolution that goes far beyond the fashion industry, and uses cutting-edge technologies to honor ethical considerations,” says Haïkel Balti, Ph.D., 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.”
“The luxury market is built on tradition—timeless craftsmanship, unmatched quality and a commitment to excellence,” says 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.”
Faircraft was founded in 2021 by Haïkel Balti, Ph.D., an engineer in materials science, and César Valencia Gallardo, Ph.D., who specializes in biochemistry and cellular Biology. Faircraft holds two international patents for its protected production method.