Modern Synthesis Raises $5.5M to Grow High-Performance Biomaterials from Microbes – vegconomist
London-based biotechnology company Modern Synthesis has raised $5.5 million in an oversubscribed funding round led by Extantia Capital, with additional investments from Artesian and Collaborative Fund. The financing will support the company’s efforts to scale production at its pilot facility and meet growing demand from fashion brands seeking sustainable material alternatives.
“This material rivals traditional leathers in look and feel, but can also offer something entirely new that excites designers”
Fashion brands are expected to face a shortage of 133 million tonnes of low-impact raw materials by 2030 due to increasing regulatory pressure to decarbonize. Modern Synthesis aims to address this gap with its biomaterial technology, which uses nanocellulose—a fibre derived from microbial fermentation—to create alternatives to animal leather, synthetic leather, and plastic-coated textiles.
The company’s proprietary process leverages the strength of nanocellulose, which is significantly stronger than steel at the nanofiber level, to develop durable, plastic-free materials. According to CEO and co-founder Jen Keane, the technology provides brands with a sustainable solution without compromising on performance.
“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,” Keane said.
Industry interest and market potential
Modern Synthesis has already gained industry attention through its collaboration with Danish fashion brand GANNI. The companies are working toward a commercial launch of GANNI’s Bou Bag, made from Modern Synthesis’ biomaterial. Despite the demand for sustainable textiles, they currently account for less than 5% of the global apparel textile market, which is valued at $1 trillion.
With over 35 new sustainability regulations expected to reshape the industry in the coming years, brands that fail to transition to lower-impact materials risk financial consequences. A report from the Boston Consulting Group (BCG) suggests that brands could see up to 8% of their earnings before interest and taxes (EBIT) affected if they do not adapt their material portfolios.
Investor confidence in biomaterials
Investors see Modern Synthesis’ technology as a viable alternative to traditional materials. Yair Reem, Partner at Extantia Capital, noted, “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.”
The funding will allow Modern Synthesis to expand its material offerings beyond fashion, with potential applications in the footwear and automotive industries.
Alexandra Clunies-Ross, partner at Artesian Investments, stated, “Our investment decision was driven by the company’s potential to revolutionize traditional manufacturing processes and drive real impact at scale.”
