Yiru Technology, a biomaterial company specializing in bio-based leather, has secured over 100 million yuan in Series A funding. The round was co-led by Ordos Group and HEDA Finance, with participation from Chaosheng Capital. This funding will support the company's commercial expansion, production capacity, and AI-driven technological advancements in bio-based leather. Yiru Technology aims to replace traditional petroleum-based materials with sustainable alternatives, offering products that are both cost-effective and performant, with a significant portion of its current orders coming from European luxury brands. AI
IMPACT AI integration is accelerating technological innovation and product iteration in the bio-based materials sector.
RANK_REASON Significant funding round for an innovative materials company. [lever_c_demoted from significant: ic=1 ai=0.7]
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