Modern Meadow, a Nutley, New Jersey and Brooklyn, New York based biofabrication company, raised $130m in in Series C funding.
The round was led by Key Partners Capital with participation from Astanor Ventures, Horizons Ventures and Cape Capital.
The company intends to use the funds to invest in research and development across material science and biotechnology.
Co-founded by Andras Forgacs, Gabor Forgacs, Karoly Jakab and Francoise Marga in 2011 and led by newly appointed CEO Anna Bakst, Modern Meadow is a company that uses biofabrication to create sustainable materials. Its proprietary technology integrates design, biology, and material science. The company has a team of 90 people with expertise in molecular biology, material science, engineering, and design.
Anna Bakst, Chair of the Board for Modern Meadow, succeeds Andras Forgacs, who has served as CEO of the company since founding the business. Bakst brings over 25 years of experience building and leading teams for American fashion houses. While on Modern Meadow’s Board of Directors, Bakst served as Brand President and CEO of Kate Spade. From 2003-2016, as Group President, she drove the expansive launch and growth of the Michael Kors Accessories and Footwear businesses. Prior to Michael Kors, Bakst led the Licensing, Accessories, and Footwear Divisions over a 12-year tenure at Donna Karan International.
Forgacs continues to serve as a Board Director.
FinSMEs
29/04/2021