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Latest Steen Ulf Jensen News

Copenhagen-based Beyond Leather Materials raises €1.1 million to make sustainable leather from apple pulp

Jul 1, 2020

By Beyond Leather Materials , a startup that produces plant-based and eco-friendly alternatives to animal leather, has closed a seed investment round of €1.1 million with Rockstart and Vaekstfonden, led by angel investor Steen Ulf Jensen via Jensengroup Investment Fund to further advance their production facilities. “We believe that we can deliver a high value and sustainable leather alternative that is based on fruit waste. We have been developing our animal free product for 3 years, and with this funding we are now able to set up our production line and enter the market this year,” says Mikael Eydt, CEO of Beyond Leather Materials. Beyond Leather Materials (2016) is a Danish startup based in Copenhagen. They are a B2B supplier of a sustainable alternative textile based on apple pulp, the byproduct from juice and cider production. The product is fully biodegradable, animal free and much more sustainable than animal-derived or synthetic leather. “At the core of Rockstart we aim to help reduce food loss and waste; Beyond Leather Materials fits perfectly into this mission by upcycling food process by-product into high-end sustainable fashion textiles”, explains Mark Durno, Managing Partner of the Rockstart AgriFood. “It was excellent to see the team progress so far during the accelerator, and ultimately access and build the investor consortium during the programme. This is a perfect example of how we like to collaborate with startups, investors, mentors and partners.” “At Vaekstfonden, we syndicate with investors and ambitious founders who want to develop companies with innovative and novel approaches to sustainability and a greener future. Beyond Leather Material is a strong case with a great market potential. They offer a unique product with the potential to drive a real change in our society. The combination of a strong team, a novel product and international investors is why Vaekstfonden has invested in Beyond Leather Material,” says Jesper Hart-Hansen, Investment Manager. “Hannah and Mikael are an exceptionally talented founder team. They have invented a unique patent-pending solution which solves a huge environmental problem caused by the production processes involved in producing animal leather. The massive inbound interest in Beyond Leather Materials’ first product proves to me they are creating real value for both the fashion industry and increasingly conscious consumers”, says lead investor Steen Ulf Jensen. Beyond Leather Materials is planning to enter the €70 billion leather supplier market this year and will start to provide its material to the fashion industry. They will open a new production facility in the Copenhagen area and expand their team. TAGS

Steen Ulf Jensen Investments

3 Investments

Steen Ulf Jensen has made 3 investments. Their latest investment was in Beyond Leather Materials as part of their Seed VC on July 7, 2020.

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Steen Ulf Jensen Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/1/2020

Seed VC

Beyond Leather Materials

$1.24M

Yes

1

12/8/2016

Angel

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$99M

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10

1/1/2016

Angel

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$99M

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10

Date

7/1/2020

12/8/2016

1/1/2016

Round

Seed VC

Angel

Angel

Company

Beyond Leather Materials

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Amount

$1.24M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

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