Investment in Next-Gen Materials Rebounded to $500 Million in 2023

Start-ups developing new sustainable materials like plant-based or lab-grown leathers, silks and furs raised $500 million in 2023, up nearly 10 percent from a year before, according to a

by think tank Material Innovation Initiative published Tuesday.

Investors funnelled more money into the space despite a wider slump that saw venture capital funding fall 42 percent and deal count decline 30 percent, according to CB Insights.

Still, the…