The Evonik and Continental Grain Company-backed bio-based materials producer has appointed a new CEO alongside its latest funding round.
Modern Meadow, a bio-based materials developer backed by chemical producer Evonik and agribusiness Continental Grain Company, has secured $130m in series C funding.
The round was led by investment firm Key Partners Capital and also featured Astanor Ventures, Horizons Ventures and Cape Capital.
Founded in 2011, Modern Meadow produces materials made from proteins and bio-based polymers through a process called biofabrication. The company’s first product, Zi, is a leather-like material it claims is sustainable, durable and water-resistant.
The round was…
