UNCAGED Innovations is a biomaterials company developing next-generation performance materials to replace bovine and exotic leather. Pulse 2.0 interviewed UNCAGED Innovations co-founder and CEO Stephanie Downs to learn more about the company.
Stephanie Downs’ Background
What is Stephanie Downs’ background? Downs said:
“My entrepreneurial journey has always been driven by wanting to create impact in industries I really care about. I founded my first company in 1999, a digital marketing agency whose biggest competitor at the time was Yellow Pages. 10 years later, I went on to found another organization, FiXiT, a nonprofit focused on using creative solutions to bring an end to pet overpopulation, and then Good Dot, India’s largest plant-based meat alternative company.”
“In 2020, I co-founded UNCAGED with Dr. Xiaokun Wang. Dr. Wang brings over 15 years of expertise in polymer chemistry and material fabrication. She holds dual PhDs in Biomedical Engineering from Georgia Tech and Peking University and has developed advanced biomaterials-based corneal substitutes during her time at Johns Hopkins University.”
Formation Of UNCAGED Innovations
How did the idea for the company come together? Downs shared:
“I have been passionate about the environment and animal welfare for as long as I can remember. UNCAGED was born out of a blend between my personal passion and two decades of entrepreneurial experience. Cattle farming today is responsible for 14.5% of global greenhouse gas emissions, and the leather tanning process relies on highly toxic chemicals and plastics, putting workers and entire water systems at risk. UNCAGED is proof that things can be done differently and more ethically.”
Favorite Memory
What has been Downs’ favorite memory working for the company so far? Downs reflected:
“The day of our first full-scale trial on a roll-to-roll production line will always be a special memory for me. For any innovation, the chances that the first of these trials will be successful is very unlikely, so I never imagined this trial would result in a complete roll. Our entire team was there, and everyone was extremely excited. Although we inevitably ran into obstacles, our energy was so infectious that people from all over the huge factory came over to help and offer solutions.”
Core Products
What are the company’s core products and features? Downs explained:
“UNCAGED combines its proprietary technology platform, BioFuze, with roll-to-roll manufacturing techniques to create a biomaterial that mimics the texture and performance of traditional leather. The process fuses structural proteins from grains with other bio-based elements to create fibral networks, replacing the animal collagen required for traditional leather. The end product emits 95% less greenhouse gases, 93% less water, and 72% less energy than traditional animal leather.”
“We supply brands with our bio-leather material and are now at full-scale roll-to-roll production. Our biomaterial is formulated to fit into existing manufacturing processes, meaning we can fulfil orders for even the world’s largest brands. Furthermore, UNCAGED can produce thousands of meters of bioleather in just a few days – a significant advantage for businesses that must move quickly to keep up with demand or meet tight production schedules.”
Challenges Faced
What challenges have Downs and the team faced in building the company? Downs acknowledged:
“The alternative leather industry has been around for over a decade, and many companies have failed to deliver on big promises, whether that is around being able to scale their business, having affordable pricing, or being sustainable. This has created skepticism in investors and made them cautious about putting capital into this industry.”
“Our investors recognized that what we have achieved so far is a significant breakthrough in an industry that has long needed a breakout innovation. The opportunity is enormous, and Green Circle Capital and Fall Line Capital – along with our other investors – saw that we have a unique ability to provide a high–quality material that is scaled and price competitive.”
Evolution Of UNCAGED Innovations’ Technology
How has the company’s technology evolved since launching? Downs noted:
“Many existing leather alternatives struggle to scale or are high in plastic, meaning they are not adopted by brands in large quantities and fail to prevent the environmental devastation caused by the traditional leather industry.”
“Our most significant milestone was when we reached full-scale roll-to-roll production last year, allowing us to produce millions of meters of the material per year and taking the next-gen leather industry to a new level.”
Significant Milestones
What has been the company’s most significant milestone since launching? Downs cited:
“Earlier this month we closed our $5.6 million Seed Investment. The round was co-led by Green Circle Capital and Fall Line Capital, with participation from Ponderosa Ventures, Golden Seeds, and existing investor InMotion Ventures, the investment arm of JLR (Jaguar Land Rover).”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Downs assessed:
“The traditional and synthetic leather industry is currently a $150 billion market, with next-generation leather accounting for $647 million. Demand for vegan leather alone is growing at a rate of 49.9% CAGR and is expected to increase as sustainability continues to rise as a priority for businesses.”
“Our bio-leather is composed of a unique blend of elements, resulting in a light, durable, and flexible material, providing huge opportunities when it comes to what our leather can be used for and providing us with the potential to capture a large part of this market. Whether it is altering the pigmentation, durability, texture, or even the fragrance of the bio-leather, our luxury product can be used in a variety of markets – from supple leather used for handbags, jewelry and apparel to structured leather for wallets and luggage, or performance leather to be used in vehicles and footwear.”
“We are currently developing prototypes for esteemed automotive businesses and some of the world’s leading luxury brands. Our goal is to work with brands of all sizes in a variety of industries when we launch our sustainable leather alternative to the marketplace.”
Differentiation From The Competition
What differentiates the company from its competition? Downs affirmed:
“There is a lot of skepticism around how environmentally friendly leather alternatives really are. What people also fail to recognise is that traditional leather itself is made up of as much as 20% plastic. UNCAGED is different as we have created a bio-based material that successfully mimics the quality of leather without requiring tanning, making it both biodegradable and toxic-free. We meet the widespread global need for a scalable and sustainable leather alternative that does not compromise on quality – or damage the planet.”
“Another misconception is that leather alternatives could never have the same feel as animal leather, and so this was a challenge we knew we had to address when creating our bio-material. We needed to find suitable alternative ingredients that could replace any plastic components but still have the desired characteristics of luxury leather, such as durability and suppleness. After years of research and testing various ingredient combinations, this was achieved by our research and development team, headed up by my co-founder, Dr. Xiaokun Wang.”
Future Company Goals
What are some of the company’s future company goals? Downs concluded:
“We are looking to start our commercial launch in the next couple of months, launching our sustainable leather alternative to the marketplace with our first fashion brand partners.”
The fashion industry, while trying to improve, is a major contributor to the climate crisis, and being able to provide alternatives that are truly sustainable solutions can help the industry take a (big!) step in the right direction. We are starting with the fashion industry, but eventually, we want to transform every industry that relies on leather. With our recent investment, we will also continue to increase production and expand our team in the coming months, including growing the manufacturing team.”
