New York – June 29, 2016 – Cooley advised Modern Meadow on its $40 million Series B funding round, which was led by Horizons Ventures and Iconiq Capital. The round also included participation from ARTIS Ventures, Breakout Ventures, Red Swan Ventures, Collaborative Fund and Tony Faddell. Cooley also advised Collaborative Fund on this transaction.
Modern Meadow is a Brooklyn, NY-based biofabrication company that grows leather from living cells to benefit consumers, animals and the planet.
In a TechCrunch article, Modern Meadow CEO and co-founder Andras Forgacs explains that "biofabrication involves the design of cells to produce and assemble collagen and other proteins to yield leather that is ‘biologically identical' to traditional types."
The company intends to use the funding to move beyond research and development and to focus on the expansion of its lab and design studio in New York, its first foundry or factory and continued hiring.
The team advising Modern Meadow and Collaborative Fund included Jim Fulton, Tamim Bazzi and McKenzie Morris.
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