Recently, the biotechnology company in New York Modern Meadow announced the completion of a $40 million B round of financing.
As a byproduct of the meat industry, the leather industry has a history of millions of years, but also an industry with hundreds of billions of output value. People get leather mainly by slaughtering animals. The Modern Meadow want to change the status quo with biotechnology. It's made of biological leather made of proteins and other elements found in animal skins, without harming animals. Not only that, Morden Meadow biological leather comparing animal leather has the following advantages:
1, more soft, in the future it can also become more solid;
2, more environmentally friendly, 80% of the traditional leather industry pollution;
3, product any size and shape of leather, free from restrictions on animal size;
4, the input-output ratio is higher than the traditional leather industry.
Since its establishment in 2013, Morden Meadow has been committed to the development of bio leather. After the end of the current round of financing, the total financing will reach $53 million 500 thousand. The money will be used to commercialize the production of biological leather. While investors on the prospects of Morden Meadow also expressed optimism. Horizons Ventures Bart Swanson said: we are very pleased to see the progress of Modern Meadow, but also glad to help it become a global enterprise. It will make the leather industry more economically efficient, more environmentally friendly, but also more in line with the concept of animal protection."
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