Gen Phoenix’s upcycled leather woos luxury brand investors

The materials developer formerly known as ELeather has a new name and $18 million in fresh growth funding from some of the world’s fanciest brands.
Now going by Generation Phoenix, the upcycler says its new investors include Coach parent Tapestry, Jaguar Land Rover and Dr. Martens, plus lead investor Material Impact and prior investor Hermès.
The 15-year-old firm is based in Peterborough, U.K., and has worked with brands such as Nike and Delta. The upcycler intends to use the new cash to expand “into the luxury fashion and footwear categories,” Gen Phoenix said in a state

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