Modern Synthesis has secured fresh investment from top climate-focused investors to scale its innovative biomaterial technology, offering sustainable alternatives to plastic-based textiles in the fashion, footwear, and automotive sectors.
Modern Synthesis, a biotechnology company pioneering microbially-derived biomaterials, has successfully raised $5.5 million in an oversubscribed funding round. Led by Extantia Capital, with contributions from Artesian and Collaborative Fund, the investment will support the company in scaling production at its pilot facility and servicing high-profile fashion brands eager to integrate sustainable materials into their collections.
Industry projections indicate that by 2030, fashion brands aiming to comply with stricter climate and decarbonisation regulations will face a 133 million tonne shortage of sustainable raw materials. Modern Synthesis’ breakthrough technology helps brands address this gap by rethinking their material strategies while introducing new aesthetics, textures, and performance benefits.
The company’s unique process transforms nanocellulose, a natural fibre derived through fermentation, into durable, high-quality substitutes for animal leather, ‘vegan’ leather, and plastic-coated fabrics. Using a scalable proprietary method, Modern Synthesis enhances nanocellulose’s natural strength and versatility, making it a viable alternative to synthetic textiles. With eight times the strength of steel at a nanofibre level, the resulting biomaterials are free from petrochemicals and toxic substances, significantly lowering their environmental impact.
Jen Keane, CEO and Co-Founder of Modern Synthesis, shared her thoughts on the company’s latest milestone:
“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 introduced a prototype handbag in partnership with Danish fashion brand GANNI. The two companies are currently collaborating to bring GANNI’s Bou Bag to market using Modern Synthesis’ biomaterial innovation. Despite the fashion industry’s increasing interest in sustainable textiles, these materials still account for less than 5% of the $1 trillion global apparel sector. With over 35 new sustainability regulations set to reshape the industry in the coming years, brands that fail to adapt risk financial losses, with up to 8% of EBIT at stake, according to a BCG analysis.
Yair Reem, Partner at Extantia Capital, highlighted the company’s potential to disrupt the industry:
“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, echoed this sentiment:
“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.”
With the support of prominent climate-focused investors, Modern Synthesis is well-equipped to accelerate the adoption of sustainable biomaterials in fashion, while preparing for expansion into the footwear and automotive sectors.
