Chicago, IL (July 25, 2024): Sente Ventures ("Sente") along with our investment partners Hatcher+ and Fark Labs, announces funding of M-Based, a company that produces a biomaterial substitute for leather.

 

M-Based's mushroom-based vegan leather technology offers an environmentally and ecologically sustainable alternative to animal and petroleum-based artificial leather for use in the fashion, automotive, and furniture industries. This innovative material is derived from mycelium, the natural web-like structure of mushrooms, reducing environmental impact and preventing animal ethics violations. Additionally, it reduces carbon emissions, water consumption, and waste production compared to existing materials.

 

"We’re excited about the possibilities of M-Based’s material” said Gerod Carfantan, Managing Partner of Sente Ventures. “Bio-based leather is in great demand across multiple industries, but what really opened my eyes is the economics and scalability of biotech-based material production. You can produce large amounts of material with low amounts of raw material and small amounts of energy and water usage”.

 

M-Based joins a growing portfolio of new industrial materials startups in Sente’s portfolio.

 

Görkem Gökoğlu, co-founder and CEO of M-Based, stated that the investment would accelerate the company's growth and R&D activities: "This investment will allow us to further develop and bring our mycelium-based vegan leather technology to market. Together with Sente Ventures, we aim to increase our growth potential in the industry and promote the use of sustainable textiles and eco-friendly materials." Regarding the investment process with Sente Ventures, he added: "Being part of the Sente family is very valuable to us. Throughout the investment process, we experienced a reliable, fast, and effective procedure."

 

Sente continues to search the globe for promising startups with unique technologies or innovative business models to solve the problems of supply chain, waste management, energy management and sustainable agriculture. For more information about Sente's investment focus and portfolio, please visit their website. For more information about M-Based, visit https://www.m-based.com/.

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About Sente Ventures

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Sente Ventures ("Sente") is a Chicago-based early-stage startup investment firm that works with corporations, family offices, and institutional investors to connect startups with innovative and scalable opportunities using its unique international investment platform. With Sente, startups can scale faster and do so internationally; investors get line-of-sight, a new way to invest in the world's most promising startups; and corporations accelerate innovation like never before. Since its founding in 2013, Sente has supported early-stage companies that operate in over 40 countries, received over $35M in funding, and has generated revenues exceeding $80M. Find Sente online at sente.vc, LinkedIn, and Twitter.