Alt. Leather raises $718,000 in seed round to drive plant-based leather alternative

In Australia, Business News Australia reported that Alt. Leather, a startup established in 2022 has raised $718,000 in a seed round.

The report noted that the firm aims to produce Australia’s first 100% plant-based alternative to leather.

The company has secured the backing of Startmate, The Austin Group, Robyn Denholm’s family office Wollemi Capital Group and LaunchVic’s Alice Anderson Fund in the capital raise.

The funds will be used to provide the Melbourne-based Alt. Leather with access to advanced equipment and research through Melbourne’s top universities, while progressing the filing of a provisional patent and a small-scale sample production in collaboration with key brands, the report added.

More on the story.