With growing consumer demand for eco-friendly and ethical clothing materials, it’s no surprise that startups in the textile and alternative leather spaces have seen significant start-up investments in recent years.
Among the recent investments in the industry is Silicon Valley-based VitroLabs, which recently closed a $46 million Series A funding round led by Agronomics. The company promotes its cell-cultivated leather as an environmentally and ethically friendly alternative to traditional leather.
Another startup, Brooklyn-based Algiknit, produces yarn made from kelp, which the company touts as not only durable but also “rapidly degradable.” The company raised $15.46 million in new investments in April of this year.
With continued venture funding in the space, it may not be long before eco-friendly textiles and leather alternatives become commonplace in consumers’ wardrobes. For those seeking environmentally-friendly fashion, this growth in sustainable alternatives to traditional garment materials is a welcomed development.
Driven by growing demand for high-performance materials that are sustainably and ethically sourced, investors have been plowing significant sums for years into the textile and alt leather spaces.