Wilson Sonsini advises VitroLabs on a $46 million Series A
On May 4, 2022, VitroLabs Inc, a Bay Area-based biotechnology company leading the development of a novel science-based process to cultivate the world’s first cellular cultured animal leather, announced that it had closed its funding from Series A to build and scale pilot production. The company has raised a total of $46 million. The funding is led by Agronomics and other investors include BESTSELLER’s Invest FWD, global luxury group Kering, Khosla Ventures, actor and environmentalist Leonardo DiCaprio, New Agrarian and Regeneration.VC. In addition, Kering continues its partnership with VitroLabs by providing support for product quality testing, tanning and finishing. Wilson Sonsini Goodrich & Rosati advised VitroLabs on the transaction.
VitroLabs is the first start-up positioned to scale cultured leather. Since 2016, the company has pioneered cutting-edge material made using advanced tissue engineering processes to create cultured animal leather from animal cells only. The company has made significant progress on product quality in the optimization of cell expansion processes and the exclusive design of a new large-scale tissue cultivator. The funding will be used to accelerate commercialization, with the expansion of scientific, manufacturing and business development teams.
The Wilson Sonsini team that advised VitroLabs on the transaction included:
IP (Patents and Innovations)
For more information, please see VitroLabs’ Press release.