Economically: Next Gen Foods gets $100M and starts in the US
02-15-2022 (14:42) – Economist
Foodtech startup Next Gen Foods has raised $100 million in a new record-breaking funding round. In addition to new investors Alpha JWC, EDBI and MPL Ventures, former investors Temasek and GGV Capital are also participating. In all, the company now has more than $130 million in growth capital.
TiNDLE can now be tasted in the Netherlands at the two-star restaurant Aan de Poel in Amstelveen.
New investors include Alpha, a Southeast Asian venture capital investor, Singapore-based international investment fund EDBI and MPL Ventures. Investors returning from previous rounds include Temasek, through the newly created Sustainable Food Asia platform, GGV Capital, K3 Ventures and Bits x Bites. Next Gen Foods aims to increase its global presence this year. After a $30 million investment round last summer, the startup’s total investment amount has now exceeded $130 million.
accelerated expansion
Next Gen Foods will use the new growth capital to accelerate, so that TiNDLE can be marketed internationally. Vegetarian chicken has already been introduced into culinary hubs such as Singapore, Hong Kong, Dubai and Amsterdam. As of today, TiNDLE is also available in North America, at restaurants in San Francisco, Los Angeles, Napa, New York, and Philadelphia.
growth in the coming years
Next Gen Foods recently announced that it will build a state-of-the-art R&D and innovation center in Singapore. The center – which will open later this year – develops and tests new technologies, applications and products. This is done in close collaboration with the Food Technology Innovation Center (FTIC) – founded by Asia’s sustainable food platform Temasak.
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