Next Gen Foods is a Singapore-based alternative protein company and creator of TiNDLE, a plant-based chicken alternative made from a proprietary blend of plant-based ingredients. The company develops components, ingredients and recipes while using an asset-light model that contracts production to manufacturing partners to scale internationally. TiNDLE is being launched through chef and restaurant partnerships and is available in cities including San Francisco, Los Angeles, Napa, New York and Philadelphia, and in markets such as Singapore, Hong Kong, Macau, Abu Dhabi, Kuala Lumpur, Dubai and Amsterdam. U.S. distribution is expanding (available via DOT Foods, FoodServiceDirect.com and Cheetah in the Bay Area) and the company plans to push TiNDLE into all 50 states. Next Gen Foods is building an R&D center in Singapore in partnership with the Food Tech Innovation Center and intends to hire protein scientists and food technologists in Singapore, Europe and the U.S. It plans to expand TiNDLE’s product roster (eg, nuggets or tenders) and eventually introduce alternatives to other animal proteins, though broader protein launches are unlikely within the next two years. Next Gen Foods produces TiNDLE, a plant-based chicken alternative formulated with a proprietary blend of plant-based fats, including sunflower oils and natural flavors to replicate chicken aroma, browning and texture. TiNDLE is GMO- and cholesterol-free and has launched in more than 70 restaurant locations across Singapore, Hong Kong and Macau. The company follows an asset-light business model and plans to enter the U.S. over the next 12 months via foodservice partnerships, later expanding into other distribution channels such as retail. Next Gen will use part of the recent funding to hire about 50 U.S.-based roles across research and development, sales, supply chain, finance and marketing. Leadership changes announced alongside the fundraise include co-founder Timo Recker moving to chairman, founder Andre Menezes becoming CEO, and former Temasek director Rohit Bhattacharya joining as CFO. Next Gen Foods is a Singapore-based plant-based protein company preparing to launch its first brand, TiNDLE, which will offer a variety of plant-based 'chicken' products. The startup raised $10 million in a seed round, a deal the article says breaks the global record for the largest seed round by a plant-based startup. Next Gen will use the funds to launch TiNDLE in Singapore and other Asian cities, hire its first US employee, and fund further product research. The company plans to be on track for a Series A within the next two years. The article places the raise and product roadmap in the context of growing plant-based demand and market projections for the sector.

Total raised

$130M

Funding rounds

3

Latest round

Series A

Latest activity

Feb 2022