PACT raises £9m seed funding from Hoxton Ventures and ReGen Ventures to scale biomaterial production
The Cambridge startup will use the capital to expand its facilities and team as it brings its collagen-based biomaterial to market.
PACT is a Cambridge-based biomaterials startup that produces Oval, a patented collagen-based leather alternative designed to replace plastic-derived materials in the fashion, footwear, interiors, and automotive industries.
Biomaterial startup PACT has secured £9m in a seed round backed by Hoxton Ventures, ReGen Ventures, Celsius Industries and Polytechnique Ventures. The Cambridge-based firm will direct the capital towards expanding its team and establishing new facilities in Cambridge to scale production of its flagship material, Oval.
Founded in 2020, PACT has engineered Oval from natural collagen to replicate the performance and ageing characteristics of leather. The material allows luxury fashion houses to integrate sustainable alternatives into existing manufacturing processes without compromising on durability or quality.
The fresh funding will enable the company to industrialise its production capabilities and pursue growth across the footwear, interiors and automotive sectors.
From the founder
"I always had a great interest in design,"
Yudí Ding
CEO at PACT
Investor perspective
"We’ve met with plenty of new materials companies but struggled to find any that could actually meet the performance standards of incumbent materials, let alone exceed them. The PACT team have developed a platform that can utilise natural collagen sources to create beautiful materials that have exceeded the strict requirements of the world’s luxury fashion houses,"
Dan Fitzgerald
Managing Partner, ReGen Ventures
Use of funds
- 01Grow the team
- 02Continue product development
- 03Fund research and development
- 04Expand into international markets
