Modern Meadow, a Nutley, NJ-based biofabrication company, secured an investment from Evonik Venture Capital.
The amount of the deal was not disclosed.
The company intends to use the funds to accelerate development of its sustainably produced, animal-free, premium branded materials platform.
Led by Andras Forgacs, Co-Founder and Chief Executive Officer, Modern Meadow is creating Zoa™, its first branded materials platform, constructed with collagen protein but without animal-based agriculture inputs. Its proprietary technology integrates design, biology, and material science with the aim of transforming the materials industry and contributing to the health of the planet.
The company is backed by Horizons Ventures, Iconiq Capital, ARTIS Ventures, Temasek, Breakout Ventures, and Tony Fadell.