Modern Meadow, a New York City-based developer of novel biomaterials, raised $10M in Series A financing.
The round was led by Horizons Ventures with participation from Sequoia Capital, Artis Ventures, Iconiq Capital and Peter Thiel’s Breakout Labs, with support from Singularity University‘s Labs program.
The company intends to use the funds to accelerate R&D and product development as well as to open an expanded research headquarters at the Brooklyn Army Terminal in New York City.
Led by CEO and founder Andras Forgacs, Modern Meadow focuses on creating an initial product line of biomaterials, including leather with advanced properties and new design possibilities. Its cultured leather and meat products require no animal slaughter and much lower inputs of land, water, energy and chemicals.
The company is hiring.