PACT secures £16m in Series A funding led by Forbion and HV Capital to scale biomaterial production
The Series A financing was led by Forbion and HV Capital to fund a new pilot production line.
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.
Cambridge-based biomaterials startup PACT has secured £16m in a Series A funding round led by Forbion and HV Capital. The company will use the capital to scale its commercial manufacturing capabilities and expand its market reach.
The funding enables the installation of a new 20-metre pilot production line at PACT's headquarters, supporting the commercial roll-to-roll manufacturing of its flagship collagen-based material, Oval. The company aims to supply leading luxury brands and push into the footwear, interior design, and automotive markets.
Founded in 2020, PACT addresses the ecological drawbacks of traditional and plastic-derived leathers by combining cosmetic-grade natural collagen with herbal extracts and oils. The resulting material offers the aesthetic and tactile qualities of traditional leather while reducing water usage and carbon emissions.
From the founder
"The founders' mission is to combine scientific innovation with design excellence to create beautiful, environmentally friendly materials that meet the exacting standards of global luxury brands while enabling broad industry adoption."
Yudí Ding
CEO at PACT
Use of funds
- 01Build out infrastructure
- 02Expand into international markets