Qorium Raises 22 Million Euros for Lab-grown Leather; Modern Meadow’s Handbag Collab: Sustainable Scene

Investment Overview - Dutch biotechnology company Qorium has successfully raised a 22 million euro series A funding round to enhance the commercialization of its cultivated leather technology [1][2] - The investment was led by Invest-NL and LIOF, with participation from existing investors Brightlands Venture Partners and Sofinnova Partners, along with several private investors [2] Funding Details - The recent funding follows an earlier 8 million euro raise through two seed rounds, which included 2.6 million euros in 2021 and an additional 7.4 million euros in 2024 [3] - The new funding will support Qorium's scaling and commercialization efforts, including expanding capacity at its Maastricht facility and establishing new partnerships for lab-grown leather [3] Industry Impact - Qorium's CEO emphasized that the investment signifies strong confidence in the company's mission to revolutionize the leather industry by providing a sustainable alternative to traditional leather [2] - Invest-NL highlighted that Qorium's innovation could significantly transform one of the most polluting industries globally [4] - The investment reflects Qorium's progress and the economic and sustainability potential of its leather products, according to Sofinnova Partners [4] Company Developments - Qorium plans to appoint a new director to its board in the upcoming weeks to support its growth and strategic initiatives [4]