U.K.-based biomaterials innovator Pact has raised a 9 million pound, or about $12 million, seed round to commercialize its inaugural material, called Oval.
Pact cofounder and chief executive officer Yudi Ding said that the company has already partnered with major luxury houses on the potential for fashion items, and will expand into footwear, interiors, and automotive products.“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. We have summarized this news so that you can read it quickly.
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