Modern Meadow, a specialist in biofabrication, has secured USD130 million in Series C funding and appointed Anna Bakst as Chief Executive Officer.
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.
“It has been a privilege to have led Modern Meadow from early development to the cusp of commercialisation,” says Andras Forgacs. “I am excited to welcome Anna as she builds upon our shared vision to leverage innovations in biology to create the next generation of sustainable materials.”
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.
Source: Private Equity Wire
