Brooklyn, New York -- Consumer technology company Modern Meadow has garnered $40 million in its second round of institutional venture capital financing.
Modern Meadow is commercializing bio-fabricated leather for a variety of applications.
The round was led by Horizons Ventures and ICONIQ Capital, and included ARTIS Ventures, Temasek Holdings, Red Swan Ventures Collaborative Fund and other investors.
Modern Meadow said it would use the funding to transition from primarily R&D to manufacturing and commercializing its product.
CEO Andras Forgacs co-founded the firm in September, 2011 with his brother, CSO Gabor Forgacs.