E-Leather, a Peterborough, UK-based global leader in patented high-tech materials technology, raised £70M in funding.
The round was led by ETF Partners in partnership with funds managed by Hermes GPE.
The company will use the funds to invest in a state-of-the-art facility to meet demand from a range of sectors, from aviation and transport through to consumer sectors. The new factory will allow E-Leather’s production to be increased from 2019 onwards.
Led by Chris McBean, President, E-Leather makes eco leather, which is designed and manufactured to provide an advanced upholstery and cladding material that can meet specific performance criteria, suitable for a range of industries including aviation, bus, coach, rail, marine, domestic upholstery and contract upholstery.
Earlier this year, the company entered a long-term strategic innovation partnership with Nike to introduce a new performance material, Nike Flyleather – a performance, engineered leather that is made from at least 50% recycled leather fibers and is lighter and more durable (based on abrasion testing), than full grain leather. It is manufactured using leather scraps diverted from landfill which are reconstituted with synthetic materials to create the engineered leather.
E-Leather currently exports to over 40 countries and has established a blue chip global customer base across the transportation universe. The company supplies seating upholstery and cladding for over 150 airlines, bus operators, and large European bus OEMs and rail vehicles.