Next Gen Foods secures largest Series A round for a plant-based meat company - Business Leader News

Next Gen Foods secures largest Series A round for a plant-based meat company

Next Gen Foods has announced that its first product, TiNDLE, is now available in a range of iconic restaurants across the United States including some of the country’s leading ‘foodie’ cities and a $100 million Series A funding round – the largest Series A to date for a plant-based meat company.

The new funding supports the expansion of TiNDLE – and its chef-first approach – into U.S. foodservice and distribution, along with the research and development of new sustainable foods.

Participating in the Series A round are new international investors Alpha JWC, the Southeast Asian venture capital firm; the Singapore-based global investment fund, EDBI; and UK-based MPL Ventures. Returning from previous rounds are Temasek through its newly established Asia Sustainable Food Platform, GGV Capital, K3 Ventures and Bits x Bites.

With the company’s plans to swiftly increase its global footprint this year, the fundraising comes from a broad mix of both Europe and Asia-based investors, following the seed round of $30 million that took place last summer. Total funding for the startup now exceeds $130 million.

TiNDLE has seen rapid success across several culinary epicenters – including Singapore, Hong Kong, Amsterdam and Dubai – and the new funding supports Next Gen Foods’ rapid acceleration
to bring TiNDLE to key markets around the globe like the United States. American diners can now taste TiNDLE in a range of delicious preparations at select eateries, found in San Francisco, Los Angeles, Napa, New York, Miami and Philadelphia.

“There’s no question that the United States is home to some of the best food cities on the planet – and we’re excited to bring TiNDLE to this market and hear what consumers think,” said Andre
Menezes, CEO and Co-Founder of Next Gen Foods. “The U.S. has long been a target market for us, and thanks to our lineup of fantastic investors who have participated in this funding round, this is only the beginning of our journey in delivering delicious and sustainable foods to reverse our climate crisis.”

TiNDLE is a versatile, easy-to-work-with, plant-based chicken that has caught the eye of all-star chefs and culinary professionals due to its unique versatility and similarities in taste and texture
to chicken from birds.