UPTEC Startup Receives €500,000 Investment
Corium Biotech has closed a new funding round to continue its innovative work aimed at revolutionizing the luxury fashion industry.
Corium Biotech, incubated at UPTEC – Science and Technology Park of the University of Porto, received funding to accelerate the development of lab-grown exotic leather, in what was a significant step towards revolutionizing luxury fashion by making it more sustainable. The startup closed a pre-seed funding round of €500,000, with participation from Biotope by VIB and Portugal Ventures.
"The funding will be used to solidify our scaleup strategy, enhance the development of new variants of lab-grown exotic leather, and expand the team with top talent in biotechnology and materials science,” the company stated in a press release. Another objective is to create partnerships with leading fashion brands and designers seeking to incorporate sustainable materials into their collections.
"We are thrilled to have the support of such key investors as we take the next big step in advancing our technology,” said Maria João Maia, CEO and co-founder of Corium Biotech. "This funding will be crucial in accelerating our R&D efforts and bringing our sustainable lab-grown exotic leather to market. We are excited to push the boundaries of biotechnology and redefine the future of luxury materials,” added Margot Muller, co-founder of the company.
Corium Biotech is dedicated to the bioproduction of exotic leather in the lab using cellular agriculture techniques. With this innovative product, the company aims to meet the needs of the luxury fashion industry, which is seeking alternative materials that mimic natural exotic leather while fulfilling environmental sustainability and animal welfare requirements.
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