UK startup Pact has raised £9mn in funding and opened a new factory to scale up the “world’s first” sustainable and scalable biomaterial made from collagen — the primary building block of your skin.
The material — dubbed Oval — looks, feels, and ages much like leather, but without the environmental impacts. Oval doesn’t just look like leather, it also responds to scratches, water, and sunlight in much the same way. I guess that makes sense seeing as it technically is a kind of skin — albeit one made in a lab.
Oval is made by combining recycled collagen recovered from old cosmetics with herbal extracts, oils, and minerals. Those are the ingredients, but Pact is keeping the recipe hush-hush for now.
What they have said is that the patented process transforms cosmetic-grade collagen into collagen skins which are then “enriched” and “enhanced” using “time-honoured finishing techniques inspired by leather artisans and master craftspeople.”
Pact claims that the carbon footprint of Oval is far lower than traditional textiles and leather. It has calculated that replacing these traditional materials with Oval would prevent 4.8 million tonnes of CO2 entering the atmosphere each year.
Replacing leather in high-end fashion
Pact says it has already formed partnerships with several leading fashion houses to explore how the biomaterial can replace traditional materials. The startup has also developed “drop in” manufacturing tech that allows clients to produce Oval directly in their own supply chains, the company told TNW via email.
“We have poured energy and creativity into our innovations, ensuring they can meet the standards of the world’s most prestigious brands and respect their heritage, whilst also being truly scalable,” said co-founder and CEO, Yudí Ding.
Ding came up with the secret sauce for Oval during his PhD research on biomaterials at the University of Cambridge. His work on proteins inspired the idea for a biomaterial derived entirely from nature. In 2020, Ding teamed up with physicist Niels Ramay to found the company and bring the leather-like material to market.
Pact announced today that it has opened a new headquarters in Cambridge, including a laboratory and pilot production facility. Fuelled by fresh funding, the startup now looks to expand into new industries, including footwear, interiors, and automotive. It also aims to discover and develop new kinds of biomaterials.
Pact’s Seed round was joined by Hoxton Ventures, ReGen Ventures, Celsius Industries, and Polytechnique Ventures.
