The funding round was led by Clean Growth Fund to help commercialise the startup's plant-based material.
"The advent of cheap plastics wiped out a century of innovation in using natural inputs to make materials. Now, with sustainability in mind, we are discovering that the natural world has all the building blocks needed to create marvellous and sustainable materials. The production of leather is particularly resource intensive and the current alternatives are riddled with plastic. The chemical composition in waste grain is uniquely suited to be transformed into a material that can resemble many of the properties of leather and more."
AlbionVC leads a Seed round for tem. to support team expansion and product development.
"We’re thrilled to have secured this investment from such well-regarded investors, which will allow us to expand our team, accelerate the development of our technology and bring it to even more customers throughout 2023,"
Valar Ventures led the seed round with participation from Passion Capital and Leo Capital.
"For businesses on the high street, every penny counts. Businesses need fairer solutions that improve cash flow and keep prices down for their customers. Open banking payments with Atoa could make a significant impact to their bottom line."
The seed round features backing from HighSage Ventures, Vireo Ventures, and various industry figures to scale the company's London laboratory.
"Our partnership with About:Energy highlights the importance of innovation in the UK and our commitment to partnering with emerging leaders to shape the future of mobility. We look forward to supporting About:Energy to scale throughout the global Plug and Play ecosystem."
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