TLDR: Female-led leather start-up, Alt. Leather, has secured $1.1 million in funding from investors including Wollemi Capital Group, owned by Tesla chairman Robyn Denholm’s family office, and LaunchVic’s Alice Anderson Fund. Alt. Leather is looking to disrupt the animal leather and petroleum-based synthetic leather market by offering Australia’s first 100% plant-based leather. The funding will be used to file a provisional patent, conduct small-scale sample production, and gain access to advanced equipment and student researchers at universities.
Wollemi Capital, led by Denholm’s daughter Victoria, recently invested in personal styling service Threadicated. Alt. Leather will use the funds to ramp up production and gain traction in the circular leather alternatives market.