Next Gen raises US$10m in latest Seed round

02-03-2021

Investors include Temasek, K3 Ventures, EDB New Ventures, NX Food, FEBE, Blue Horizon and more.

Singapore-headquartered food-tech start-up Next Gen has closed a US$10 million Seed round. This follows an earlier founder capitalisation of $2.2 million.

Investors in this Seed round include Temasek, K3 Ventures, the New Venture arm of the Singapore Economic Development Board (EDB), NX Food, FEBE Ventures, and Blue Horizon, along with others.

The funding will be used for the global launch of Next Gen’s plant-based chicken consumer brand TiNDLE in Singapore, expansion into additional Asian cities, and continued R&D of new plant-based products.

Timo Recker, CEO and co-founder of Next Gen, commented: “The response from our investors, raising more than our initial $7 million target, is a strong validation of our team, technology, business model, product, and expansion strategy. Our investment success is thanks to support from all our investors, K3 Ventures in particular, which has a track record of being early backers of successful start-ups such as Grab and ByteDance.”

Particularly, Next Gen’s consumer brand TiNDLE will be making its global debut in Singapore this March. Developed in collaboration with chefs and for chefs, the first TiNDLE product is TiNDLE Thy, delivering the taste and versatility of chicken thigh. Chefs can use TiNDLE Thy to prepare dishes in multiple culinary applications, and for many kinds of cuisines – Western, Chinese, Indian, Middle Eastern and more.

TiNDLE Thy has been created directly with chefs, offering high protein, high fibre and low carb; it is also GMO and naturally cholesterol-free. TiNDLE Thy also meets the nutritional guidelines for the Healthier Choice Symbol administered by Singapore’s Health Promotion Board due to its lower sodium and lower saturated fat content.