Modern Meadow has raised $10 million in series A funding, a thunderous accomplishment in support of 3D solutions for issues in climate change. Series A funding is the term given to the first significant round of funding for a burgeoning company, and money talks. Modern Meadow recognizes the deleterious impact mass livestock farming has on climate change, so the company seeks alternative biomaterial production in order to moderate the effects wrought by massive traditional livestock practices. The innovation proffered by Modern Meadow weaves cutting edge biomaterial research and 3DP in order to produce alternative production for leather and meat.
Modern Meadow received its leading funding from Horizons Ventures, a venture fund led by Mr. Li Ka-Shing. Operating out of Hong Kong, Horizons Ventures has a history as a leading investor in innovative and impacting technologies such as Facebook, Waze, Skype, Spotify, Siri, and Hampton Creek. Along with the support of Horizons Ventures, Modern Meadow had received funding from Sequoia Capital, Artis Ventures, Iconiq Capital, and Peter Theil’s Breakout Labs with support from Singularity University’s Labs program. With the newfound treasure trove, Modern Meadow will use the financial endorsement as a catalyst to accelerate R&D and product development while opening an expanded research headquarters at the Brooklyn Army Terminal in New York City.
According to Bart Swanson of Horizons Ventures, “We are delighted to partner with Modern Meadow whose truly innovative and disruptive solutions together with its increasing cost effectiveness can help address global resources challenges.”
CEO and founder Andras Forgacs said, “With the livestock industry being the largest user of land and water and the leading driver of climate change, now is the time to pursue better alternatives. Our goal is to develop new cultured leather materials with advantages in design, performance, sustainability and animal welfare. In the longer term, we are also developing meat products that are healthier, safer and don’t require harming animals or the environment. We are thrilled to have the support of such visionary and engaged investors.”