By: ICN Bureau
Last updated : May 01, 2021 11:21 am
Led by Key Partners Capital with participation from Astanor Ventures, Horizons Ventures and Cape Capital, the Series C cements Modern Meadow as a leader in biofabrication
Modern Meadow, a leader in biofabrication, announces the next chapter of its growth with $130 million in Series C funding and the appointment of Anna Bakst as the company’s Chief Executive Officer (CEO).
Led by Key Partners Capital with participation from Astanor Ventures, Horizons Ventures and Cape Capital, the Series C cements Modern Meadow as a leader in biofabrication.
For the past nine years, Modern Meadow’s investment in research and development across material science and biotechnology has paved the way for a future of biobased, sustainable consumer products.
Anna Bakst, Chair of the Board for Modern Meadow, succeeds Andras Forgacs, who has served as CEO of the company since founding the business.
Under Bakst’s leadership, Modern Meadow ushers in a new era of bringing materials to market that perform for people and the planet. Forgacs continues to serve as a Board Director, amplifying his vision for climate action through transformational biofabrication technology.
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.
Bakst said, “The heart of our company will always be research and innovation. We’ve now reached an inflection point where products built on our platform can beat industry standards on quality and value. I’m excited to work with our team and partners to bring those products to market.”
“Modern Meadow combines deep biotech expertise with a passion for sustainability, delivering new materials for consumer industries and leading an industry-wide shift toward a bioeconomy away from animal-based agriculture and fossil-fuels,” said Eric Archambeau, Co-founder and Partner, Astanor Ventures.