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- Gen Phoenix
Gen Phoenix Funding, Investors & Competitors
Gen Phoenix has raised $138M across 5 funding rounds, most recently a $15M Series A in July 2025.
Last Gen Phoenix funding round
$15M
Series A · Jul 2025
Cumulative funding Gen Phoenix raised
$138M
across 5 funding rounds
Key investors in Gen Phoenix
ETF Partners
Hermes GPE
Material Impact
Tapestry
InMotion Ventures
Dr. Martens
About Gen Phoenix
Gen Phoenix is a Seoul-based manufacturer that produces regenerated leather sheets from post-consumer and production leather waste through a proprietary fiber recovery process. The company blends recovered leather fibers with bio-based binders to form materials matching virgin leather's strength and aesthetics for applications in automotive interiors, fashion accessories, and electronics cases. Gen Phoenix supplies brands including Hyundai Mobis and Samsung Electronics with traceable, circular materials verified via blockchain-enabled digital passports. Headquartered in South Korea since its 2021 launch, the firm operates a production facility in Pyeongtaek capable of processing thousands of tons of waste annually into customizable sheets.
Founded
2007
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Gen Phoenix Funding History
Gen Phoenix has raised a total of $138M across 5 funding rounds.
Gen Phoenix's first fundraising round was a $8M Series A in May 2014. The most recent completed round was a $15M Series A in July 2025.
Gen Phoenix funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2025 | Series A | Material Impact (lead); Tapestry | $15M | Gen Phoenix develops a patented circular process that regenerates post-industrial and post-consumer leather waste into premium recycled leather materials for industries including fashion, footwear, automotive, and mass transportation seating. The company's Helios solution transforms leather offcuts destined for landfills into high-performance materials with an 80-85% lower carbon footprint than virgin leather. Gen Phoenix has diverted thousands of tonnes of material from landfills since 2007 and operates a UK facility in Peterborough with capacity for over 60 million square feet annually. On July 15, 2025, Gen Phoenix closed a $15 million Series funding round led by Material Impact, with Tapestry increasing its equity stake to 9.9%, nearly quadrupling its 2023 investment. Tapestry also signed a three-year supply agreement exceeding $50 million for recycled leather to support its brands like Coach and Kate Spade. Proceeds will fund expansion into new categories and global markets such as automotive interiors and tech accessories, scaling production infrastructure, and accelerating R&D for fully circular leather incorporating end-of-life waste. Prior to this round, Gen Phoenix raised $18 million in April 2023 led by Material Impact with participants including Dr. Martens and Tapestry. The company partners with Jaguar Land Rover via InMotion Ventures, Dr. Martens for footwear collections, and others like ETF Partners and Hermes GPE Environmental Innovation Fund. This investment validates the scalability of Gen Phoenix's platform meeting price, performance, and sustainability criteria for global brands. |
| Mar 2023 | Series B | Material Impact (lead); ETF Partners; InMotion Ventures; Dr. Martens; Tapestry; Hermes GPE | $18M | Gen Phoenix, formerly ELeather, is a UK-based company founded in 2008 that manufactures sustainable recycled leather materials by transforming post-industrial and post-consumer leather waste into high-performance circular alternatives using its patented Helios technology. The material is used in mass transportation seating, leather goods, footwear, automotive interiors, and tech accessories, offering an 85% lower carbon footprint than virgin leather while matching price, performance, and quality. The company operates a production facility in Peterborough, UK, with capacity for over 60 million square feet annually, and has diverted thousands of tonnes of leather waste from landfills since 2007. In late March 2023, Gen Phoenix raised an $18 million Series B round led by Material Impact, with participation from Dr. Martens, InMotion Ventures (Jaguar Land Rover's investment arm), Tapestry, and existing investors ETF Partners and Hermes GPE Environmental Innovation Fund. Some sources report the round as $15 million, noting Tapestry increased its stake to 9.9%, nearly quadrupling its initial 2023 investment. The funds are intended to support market expansion into luxury fashion, footwear, and new global categories; scale production infrastructure; and accelerate R&D for fully circular leather solutions incorporating post-consumer waste. Alongside the funding, Gen Phoenix secured a three-year supply agreement with Tapestry exceeding $50 million in value, enabling supply chain resilience and sustainable materials for brands like Coach and Kate Spade. The company also partners with Jaguar Land Rover and Dr. Martens on applications like capsule collections. |
| Feb 2018 | Undisclosed stage | ETF Partners (lead) | $96M | - |
| Sep 2017 | Undisclosed stage | ETF Partners (lead); Hermes GPE | - | Hermes GPE co-invested in E-Leather, the business now trading as Gen Phoenix, in September 2017 alongside lead investor ETF Partners, the European environmental technology venture firm. Hermes GPE took a minority position through its co-investment programme under a Growth investment thesis within its sustainability megatrend. E-Leather is a UK-based manufacturer of high-performance recycled leather composite material, aesthetically similar but functionally superior to traditional leather, with applications across transport, retail and automotive markets. Key product characteristics include lighter weight, greater malleability, longer durability and a smaller environmental footprint for end users than conventional hide leather. The company rebranded as Gen Phoenix in 2022 and has since raised further growth capital. The amount invested in the 2017 round was not disclosed. |
| May 2014 | Series A | ETF Partners (lead) | $8M | - |
Who has invested in Gen Phoenix?
6 investors have backed Gen Phoenix across its funding rounds, including ETF Partners, Hermes GPE, Material Impact, Tapestry, InMotion Ventures and Dr. Martens.
Lead investors include Material Impact and ETF Partners.
Gen Phoenix Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | May 2014 | ||
| 2 | Lead | Mar 2023 | ||
| 2 | Participant | Mar 2023 | ||
| 2 | Participant | Sep 2017 | ||
This data is available for Pro users. Sign up to see all 6 Gen Phoenix investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialGen Phoenix Competitors
Gen Phoenix competitors include listed companies like Air Liquide, Merck KGaA, Disco and HEC Group, and private ones like Recover and Rebel.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.1B | - | ||
| Private | - | - | $59M | - | ||
| Publicly listed | $31B | $8.6B | $122B | 4.4x | ||
| Publicly listed | $24B | $5.3B | $66B | 3.1x | ||
| Publicly listed | $2.8B | $1.3B | $35B | 10.7x | ||
| Publicly listed | $2.2B | $227M | $14B | 7.3x |
Gen Phoenix Public Comps
Gen Phoenix is still privately-owned, but its public comps include Air Liquide, Merck KGaA, Disco, Qnity Electronics, JX Advanced Metals, Grace Fabric, Pidilite, HEC Group, Jiangsu Eastern Shenghong and Ganfeng Lithium.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $31B | $8.6B | 4.5x | 4.4x | 16.4x | 14.3x | |||
| $24B | $5.3B | 3.1x | 3.1x | 14.3x | 10.7x | |||
| $2.8B | $1.3B | 11.9x | 10.7x | 26.2x | 22.8x | |||
| $4.8B | $1.4B | 5.9x | 5.2x | 19.9x | 17.1x | |||
| $5.7B | $1.1B | 3.9x | 3.6x | 19.6x | 13.3x | |||
| $175M | $54M | 112.7x | 52.3x | 367.0x | 112.8x | |||
| $1.5B | $390M | 10.6x | 9.7x | 41.2x | 40.5x | |||
| $2.2B | $227M | 7.2x | 7.3x | 70.2x | 66.0x | |||
This data is available for Pro users. Sign up to see all Gen Phoenix competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Gen Phoenix
| When was Gen Phoenix founded? | Gen Phoenix was founded in 2007. |
| Where is Gen Phoenix headquartered? | Gen Phoenix is headquartered in Peterborough, United Kingdom. |
| Is Gen Phoenix publicly listed? | No, Gen Phoenix is a private, VC-backed company. |
| How much funding has Gen Phoenix raised? | Gen Phoenix has raised $138M across 5 funding rounds. |
| What was Gen Phoenix's last funding round? | Gen Phoenix's last funding round was a $15M Series A in July 2025, led by Material Impact. |
| Who are Gen Phoenix's investors? | Gen Phoenix's investors include ETF Partners, Material Impact, Tapestry, Hermes GPE, InMotion Ventures and Dr. Martens. |
| Which companies are comparable to Gen Phoenix? | Companies comparable to Gen Phoenix include Recover, Rebel, Air Liquide, Merck KGaA, Disco and HEC Group. |
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