ELeather rebrands as Gen Phoenix and announces new funding
ELeather, the world’s first and only producer of sustainable recycled leather at scale, is rebranding as Gen Phoenix after securing 18 million US dollars in funding to further its mission to create premium and eco-conscious next-gen materials.
The 18 million US dollar investment was led by venture capital firm Material Impact with participation from Dr. Martens and InMotion Ventures, the investment arm of Jaguar Land Rover, and Tapestry, which includes luxury brands Coach, Stuart Weitzman and Kate Spade. The funding round also includes existing investors ETF Partners and the Hermes GPE Environmental Innovation Fund, who continue to support the company’s growth plans.
©Gen Phoenix
The name Gen Phoenix is inspired by the cyclical regeneration of the phoenix, as it looks to give new life to leather waste by transforming it into a sustainable alternative. The name also adds “ushers in a new generation of materials for the next era of sustainability,” underscoring the company’s commitment to manufacturing environmentally-friendly next-gen materials to offer its brand partners tangible solutions to their sustainability goals.
