Leading climate investors are backing Modern Synthesis’ biomaterial technology to reduce emissions and plastic pollution from fashion, footwear, and automotive industries.
LONDON, UK. February 5th, 2025 - Modern Synthesis, a biotechnology company pioneering the development of microbially-derived biomaterials, today announces the successful close of a $5.5 million funding round. The oversubscribed round was led by Extantia Capital, with participation from Artesian and Collaborative Fund. This investment will enable Modern Synthesis to expand production at its pilot facility and service more leading fashion brands on its growing waitlist.
Industry research shows that fashion brands trying to comply with mounting decarbonisation and climate regulations will face a 133 million tonne shortfall of low-impact raw materials by 2030. Modern Synthesis’ technology enables brands to reduce this shortfall by proactively adjusting their preferred raw materials mix whilst delivering new looks, feels, and material functions.
To make their biobased materials, Modern Synthesis transforms nanocellulose – a natural fermentation-derived fibre – into durable, high quality alternatives to animal leather, ‘vegan’ leather, and plastic-based coated textiles. The company’s scalable, proprietary process leverages advanced material science to build upon the innate strength and versatility of nanocellulose, a naturally derived polymer which is eight times stronger than steel at a nanofibre level. The resulting materials are free from petrochemicals and toxic ingredients, and offer reduced environmental impact compared to incumbent textiles.
CEO and Co-Founder of Modern Synthesis, Jen Keane, said: “Having demonstrated unprecedented material performance without plastic, we’re primed to offer the fashion market a material solution that can both captivate consumers and unlock a path to circularity. This investment gives us the capacity to work with more brands as we continue to uncover new use cases for the technology.”
In September 2023, Modern Synthesis unveiled a prototype handbag in collaboration with Danish fashion brand GANNI; the companies are jointly working towards a commercial launch of GANNI’s Bou Bag in Modern Synthesis’ biomaterial. Despite the demand from the industry, commercially available sustainable textiles represent less than 5% of the $1 trillion global apparel textile market. With more than 35 new sustainability-linked regulations slated to reshape the industry in the next few years, fashion and apparel brands that fail to adapt their material portfolios could face significant financial risks, with up to 8% of EBIT potentially at stake, according to BCG analysis.
Yair Reem, Partner at Extantia Capital, said: “The first thing that struck us was how this material rivals traditional leathers in look and feel, but can also offer something entirely new that excites designers. Jen’s deep expertise in fashion and design, combined with Ben’s tech-savvy brilliance, has created a game-changing solution that redefines what’s possible with sustainable, high-performance materials. Modern Synthesis represents the future of industry - delivering better, more cost-effective and resilient materials that also happen to be green.”
Alexandra Clunies-Ross, Partner at Artesian Investments, added: “We are delighted to partner with Modern Synthesis in their mission to mainstream biobased materials. Our investment decision was driven by the company's potential to revolutionise traditional manufacturing processes, and drive real impact at scale. At Artesian, we believe that early-stage investment in innovative technology companies like Modern Synthesis is crucial in addressing the climate crisis.”
The added support of leading climate-focused investors will enable Modern Synthesis to address the urgent need for lower-impact materials in the fashion industry, while paving the way for future expansion into the footwear and automotive markets.
ENDS
ENDS
- Share This Article
Got News You'd Like To Share With The World? Our Press Release Distribution Starts At Just £95
