VitroLabs, a Milpitas, CA-based biotech company, raised $46M in Series A funding.
The round was led by Agronomics, with participation from Invest FWD, Kering*, Khosla Ventures, Leonardo DiCaprio, New Agrarian, and Regeneration.VC.
The company intends to use the funds to fast-track commercialization, with expansion of scientific, manufacturing, and business development teams.
Led by CEO Ingvar Helgason and stem cell scientist Dr. Dusko Ilic, VitroLabs is a biotech company developing a scalable tissue engineering platform for the efficient and environmentally friendly production of leather from only a few cells combining advanced tissue engineering processes with proprietary advances to achieve commercial scale.
Since 2016, the company has been pioneering the material made by using advanced tissue engineering processes to create cell cultivated animal leather from only a few animal cells. VitroLabs has made significant progress on product quality in the optimization of cell expansion processes and proprietary design of a novel, large-scale tissue cultivator. Last fall, the company moved into its new, 45,000 square foot facility, designed for pilot production and laboratory space as they move towards commercialization.
* Kering continues its partnership with VitroLabs in bringing support for product quality testing, tanning, and finishing.
FinSMEs
05/05/2022