Next Gen Foods Announces Extended $ 20 Million Seed Run for Introduction of Plant-Based Chicken “TiNDLE” in the United States
SINGAPORE and SAN FRANCISCO, July 13, 2021 / PRNewswire / – Next Gen Foods, makers of the plant-based chicken brand “TiNDLE” today announced a $ 20 million extension of their selection turn, taking the entire turn to $ 30 million, the biggest ever for a plant-based startup. The funds will primarily be used to launch “TiNDLE” in the United States, the largest plant-based meat market.
New investors in this latest cycle include: Global Fund GGV Capital, which is making its first investment in vegetable chicken; ChinaBits x Bites, an agriculture and food technology venture capital fund that actively invests in the alternative protein space; Yeo Hiap Seng, one of the leading Asian food and beverage players with a strong presence in the plant-based dairy industry; Joining the new list of investors means: Chris Yeah, co-author of Blitzscaling, a book on how tech companies grow quickly; a distinguished group of athletes including Dele Alli, the England national team footballer. Existing investors include Temasek, and Asia– K3 Ventures venture capital fund.
As part of its entry into the US market, the company will hire more than 50 employees in research and development, sales, supply chain, finance and marketing. Employees will be primarily based in the Bay Area. The company will also use the extended financing to continue its international expansion in Asia-Pacific and the Middle East, by developing its technology, by creating a research and development center in Singapore and product diversification.
“United States is the world’s largest market for plant-based foods. We are already putting our foundations in place to be in the market for the next 12 months as we accelerate our goal of becoming the world’s number one plant-based chicken, ”said co-founder and CEO André Ménezès. “The exceptional response from existing and new investors demonstrates their confidence in our innovative technology, our highly scalable business model, our differentiated taste experiences and our team’s ability to make TiNDLE a market leader in the United States. “
“The NextGen team has one of the strongest founding market fits in FoodTech, having previously developed and successfully launched a plant-based meat product for the European market. The team’s focus on product quality, brand recall and distribution provides a solid foundation for the future growth of the company, ”said Jenny lee, Managing Partner of GGV Capital. “Our partnership with the NextGen team is supported by our commitment to teaming up with founders who demonstrate genuine passion and a flair for solving the fundamental challenges of our time – food sustainability is one of them. By leveraging technology to create delicious, plant-based foods, NextGen has a unique global opportunity to popularize non-animal food products and let consumers know that great flavor can go hand in hand with great nutrition and quality. durability. ”
First launched in Singapore at the start of 2021, TiNDLE was sold in more than 70 restaurants in Singapore, Hong Kong and Macau. This includes the ADDA by four times Michelin Star Chef Manjunath Mural and two Michelin Star Bo Innovation by Chef Alvin Leung in Hong Kong.
“Following our March 2021 Launching TiNDLE, we have expanded to three key markets, and we expect to be more than five by the end of 2021, a mark that some big brands do not cross after years of existence. We are evolving at this incredibly fast pace thanks to our business model, our distribution network, our talents and our collaborations with great chefs and hot restaurants, ”added Jean Madden, new generation marketing director.
Developed by CTO Next Gen John seeger in collaboration with chefs and for chefs, the first TiNDLE product TINDLE Tone, brings the incomparable taste and versatility of chicken. Chefs can easily use TINDLE Tone to prepare dishes in multiple culinary applications and for many types of cuisines – Western, Chinese, Indian, Middle Eastern and more.
Offering high in protein, high in fiber and low in carbohydrates, TiNDLE is also non-GMO and naturally cholesterol free. TINDLE Tone follows the nutritional guidelines of the Healthy Choice Symbol administered by that of Singapore Health Promotion Board due to its low sodium and saturated fat content compared to regular plant-based meat substitutes.
TiNDLE is a mouth-watering, plant-based chicken experience that recreates everything we love about chicken – the taste, mouth feel, texture and versatility. A game changer, TiNDLE is made for this age, where we actively think about what we eat and how it affects the environment. TiNDLE brings real people together for a mind-blowing taste experience that also benefits the planet. TiNDLE is the first brand created by Next Gen, a Singapore-Food technology company whose head office develops and markets innovative and sustainable plant-based food products. For more information visit www.tindle.com or follow @tindlefoods on Instagram
About Next Generation Foods
Next Gen is a food technology company that develops and markets innovative and sustainable plant-based food products such as TiNDLE. Based at Singapore, Next Gen combines cutting-edge technology with its diverse network of specialists to create herbal products that deliver mouth-watering taste experiences. Created by Timo recker, former LikeMeat founder and industry veteran, André Ménezès, Next Gen is backed by a team with proven track record in alternative protein food technology, global brand development and multi-level food marketing. For more information visit nextgenfoods.sg
CONTACT: Molly Gagnon
SOURCE Next Generation Foods