Next Gen Foods Debuts TiNDLE in the United States and Announces a Record-Breaking $100 Million Series A Funding Round
● Starting today, the food startup is now offering TiNDLE – its popular chicken made from plants – in top restaurants around the country and nationwide through Goldbelly
● Expansion into North America follows a record-breaking $100 million Series A supported by new investors Alpha JWC, EDBI and MPL Ventures and returning investors in Temasek’s Asia Sustainable Foods Platform and GGV Capital; total funding for the company now exceeds $130 million
● The new funding supports the expansion of TiNDLE – and its chef-first approach – into US foodservice and distribution, along with the research and development of new sustainable foods
NEW YORK, NY (February 15, 2022) – Next Gen Foods announces today that its first product, TiNDLE, is now available in a range of iconic restaurants across the East and West Coasts in 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.
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.
“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.”
“I was very impressed with TiNDLE. As a non-vegan chef, I can definitely vouch that this product is very close to mimicking the flavor and texture of chicken,” shared Joshua Yap, Executive Chef at BAIA in San Francisco. “Being at BAIA has widened my range of possibilities in cooking with vegetables and plant-based products. TiNDLE opens up a large window for chefs, vegan or not, to play with and create new recipes in their kitchens.”
The startup plans to expand TiNDLE to additional major U.S. cities in the next few months, including Miami, Austin and more. Stay tuned for future developments and restaurant news.
USA, Meet TiNDLE
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. It features the distinctive flavor of chicken, thanks to Lipi™ – the company’s proprietary emulsion of plant-based ingredients that mirror the aroma, cookability and savory qualities that typically comes from chicken fat.
TiNDLE is made of nine simple ingredients, all of which are ubiquitous and well known to international regulators and food manufacturers. In addition, it is high in protein and fiber and contains no antibiotics, hormones, cholesterol, or genetically modified ingredients.
Several of America’s leading chefs and culinary personalities – including James Beard Award winner and The New York Times best-selling author, Rocco DiSpirito, and Food Network star and grillmaster, Chad Rosenthal – are already innovating and cooking with TiNDLE. Chef Rocco DiSpirito recently joined the company as a culinary advisor and consultant, testing early crowd favorites in his TiNDLE Parmesan Sliders and TiNDLE Lotus Leaf Baos at last fall’s New York City Wine & Food Festival. Later this month, Miami residents will have a chance to experience TiNDLE – as prepared by Chef Rocco – at the annual South Beach Wine & Food Festival from February 24-27.
Consumers can also sample a taste of Chef Chad Rosenthal’s restaurant-quality experience nationwide through the Motel Fried Chicken storefront on Goldbelly – which offers a convenient and interactive meal kit featuring his signature TiNDLE Picnic Chicken Sandwich. Goldbelly is a curated marketplace for gourmet food and gifts, delivered straight to your door.
To learn where to currently find TiNDLE, visit www.tindle.com.
Growth for 2022 and beyond
The new funding will help to increase distribution of TiNDLE throughout all 50 states in the U.S. Beginning today, distributors nationwide can now order the product through DOT Foods – the largest food redistributor in America for over 60 years. TiNDLE is also available to order on FoodServiceDirect.com – the convenient online marketplace for quality food and supplies – and through Cheetah for restaurants located in the greater San Francisco Bay Area.
In addition, the recent raise will support and increase Next Gen Foods’ R&D and product innovation capabilities at its brand-new research hub set to open in Singapore later this year. The company’s state-of-the-art R&D and Innovation Center – developed in partnership with the Food Tech Innovation Center (FTIC), established by Temasek’s Asia Sustainable Foods Platform – will act as a launchpad for the development and trial of new technologies, applications and products.
Next Gen Foods also intends to expand its R&D team across Singapore, Europe and the United States to include additional protein scientists and food technologists with ingredient and product development expertise. Open roles at the company can be found here.
“Within a year, we’ve gone from launch to more than 200 restaurants on three continents. We will continue this relentless momentum in 2022 thanks to strong demand from chefs, distributors and consumers, who love TiNDLE for its great taste and tiny environmental footprint,” said Rohit Bhattacharya, Chief Financial Officer at Next Gen Foods. “We are grateful to have mission aligned and long-term global investors supporting us during such a critical phase for the company – bringing their expertise and visionary leadership.”
“GGV is excited to deepen our relationship with the Next Gen Foods team with this Series A funding round. We seek companies that can separate themselves from the rest of the industry through technology, innovation and passion,” said Jenny Lee, managing partner at GGV Capital. “Next Gen Foods’ growth in less than a year has been remarkable, as is their ongoing commitment to being part of the solution for how global food production will play a significant role in addressing the impact of climate change. We look forward to their next phase of expansion into the U.S. and beyond.”
Existing investors in Next Gen Foods include NX-FOOD and Yeo Hiap Seng – as well as prominent personalities such as business guru and author Chris Yeh and famed English footballers Dele Alli and Kieran Gibbs.
Rapid growth, global vision
Next Gen Foods was founded in 2020 by Brazilian-born poultry exporter and food industry veteran Andre Menezes, and German native Timo Recker, whose family business made schnitzel and other meat products for three generations. After meeting through an introduction by Rohit Bhattacharya, who is now the startup’s Chief Financial Officer, they decided to work on products that reduce humanity’s reliance on animal agriculture.
The early leadership team – including Chief Marketing Officer Jean Madden – worked closely with Chief Technology Officer and the brainchild behind TiNDLE, John Seegers, to develop a flagship product through extensive research into what makes chicken taste and perform like chicken. They named their first product TiNDLE as a modern reference to 19th-century Irish physicist John Tyndall, who proved the connection between atmospheric CO2 and the greenhouse effect.
On average, chicken made from plants uses less land, less water, and produces less CO₂ than chicken from birds. Based on a recent Blue Horizon report, choosing plant-based chicken over avian meat saves 82% less water, 74% less land and 88% less greenhouse gas emissions.
In less than one year, TiNDLE grew from being served in a handful of Singapore-based restaurants to now becoming available in over 200 restaurants across the United States, Asia, Middle East and Amsterdam. Interested chefs and operators looking to add TiNDLE to their menu can contact [email protected] for details and samples.
TiNDLE is a juicy, plant-based chicken that offers mouthwatering taste, texture, and versatility. TiNDLE is made without animals and with a fraction of the land, water, and energy used to produce meat from birds. TiNDLE brings people together for a mind-blowing taste experience that also benefits the planet. TiNDLE is the first brand created by Next Gen Foods, a Singapore-headquartered food tech company developing and commercializing innovative, sustainable foods. For more information, visit www.tindle.com or follow @tindlefoods on Instagram.
About Next Gen Foods
Founded in 2020, Next Gen Foods is a food-tech startup developing and commercializing innovative and sustainable plant-based food products — including its flagship product, TiNDLE. Next Gen Foods is backed by a team with proven experience in plant-based food technology, global brand development, and global distribution scaleup. For more information, visit nextgenfoods.sg.