New York company Modern Meadow announced it has raised $10 million for bio-printed leather production.
The startup company can grow meat and produce leather in the lab without killing large numbers of animals, and it is planning to use the raised money on research and product development as well as expanding its New York City research headquarters.
“Our goal is to develop new cultured leather materials with advantages in design, performance, sustainability and animal welfare,” Andras Forgacs, CEO and founder of Modern Meadow, said. “In the longer term, we are also developing meat products that are healthier, safer and don’t require harming animals or the environment.”
According to the Wall Street Journal, Modern Meadow intends to use tissue-engineering technology called “biofabrication” to produce meat from skin cells and meat from muscle cells, which is more environmental-friendly than the traditional methods of killing animals.
Read also: Scientists Build Artificial Blood Vessels with 3D Printer
Modern Meadow’s new method of producing meat and leather will reduce the impact of livestock production, which is the biggest contributor to global warming.
The Wall Street Journal referred to a study by Research and Markets that said leather products are expected to reach $91.2 million in sales by 2018.
Modern Meadow said the investment is made by Horizons Ventures, a Hong Kong based firm led by Li Ka-shing, which has supported many worldwide projects, such as Facebook, Skype and Siri.
“We are delighted to partner with Modern Meadow, whose truly innovative and disruptive solutions, together with its increasing cost-effectiveness, can help address global resources challenges,” Bart Swanson, of Horizons Ventures, said.
Photo: Modern Meadow employees at the University of Missouri in Columbia, Mo.Modern Meadow Inc.
(not the most interesting)
https://blogs.wsj.com/venturecapital/2014/06/18/modern-meadow-raises-10m-to-grow-leather-in-labs-not-from-livestock/
Edit: Scott
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