Biotech Startup PACT Scores £9M to Scale Eco-Friendly "Leather" Alternative

In a world where sustainability is the new black, PACT, a biotech startup, just bagged a cool £9M in seed funding to industrialize Oval—a scalable, eco-friendly material made from natural collagen.

The funding, led by Hoxton Ventures and joined by ReGen Ventures, Celsius Industries, and Polytechnique Ventures, will help PACT scale production and roll out its innovative biomaterial to more industries.

Yudí Ding, Co-Founder & CEO of PACT shared the news on LinkedIn and said:

"I am also thrilled to announce the opening of our new 13,000+ sq. ft. Cambridge HQ, featuring state-of-the-art office, lab, and pilot facility, where our amazing (and stylish ✨ ) team is driving the hashtag#scale-up and hashtag#industrialisation of the next biomaterial innovations."

And no, this isn’t just another startup talking the sustainability talk—PACT is walking the eco-friendly walk.

Founded in 2020 by Yudí Ding and Niels Ramay, the company has quickly grabbed the attention of luxury fashion brands.

• Oval, their first product, mimics leather's look and feel but slashes the environmental damage.

With fashion under the microscope for its hefty carbon footprint, Oval arrives at a time when brands are desperate to "green" their supply chains—without turning their operations upside down.

Lucky for them, Oval can be manufactured with existing processes, making the transition smooth, like the material itself.

Here’s the kicker:

If just 1% of leather and synthetic textiles were replaced with Oval, we’d save 4.8 million tonnes of CO2 annually.

Not bad for a startup, right?

With sustainability in the spotlight (thanks, climate change), PACT’s timing couldn’t be better. As global protests for climate action continue, industries from fashion to automotive are scrambling to clean up their act—and Oval might be their new secret weapon.

PACT’s next steps?

Expanding its biomaterials into footwear, interiors, and even cars. Yes, you read that right—your shoes and car seats could soon be made from this planet-saving, stylish material. Talk about driving change in style!