Singapore food tech start-up raises $10m seed round

Investors include Temasek Holdings, Febe Ventures, sector specialists NX Food and Blue Horizon, and K3 Ventures, a VC unit of the Singapore Economic Development Board. It follows an investment of about $2.2 million in October last year.

The capital will be applied to an Asia expansion, R&D, new product development, and a global launch for Tindle. Plans for the next 1-2 years include raising Series A funding, product diversification, and entries into Europe and the US. Traction in the US to date includes recruiting a growth director focused on building a network of distributors, restaurants, and chefs in the country.

Tindle will make its debut in Singapore this month. The product, which is said to mimic both the taste and cooking versatility of chicken, is available in select restaurants. The idea is to be usable in a range of cuisines, including Western, Chinese, Indian, and Middle Eastern.

"The exceptional response from our investors, raising more than our initial $7 million target, is a strong validation of our team, our technology, our business model, our fantastic product, and our expansion strategy," Next Gen co-founder and CEO Timo Recker said in a statement. "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."

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• Topics
• Southeast Asia
• Consumer
• Cleantech
• Early-stage
• Singapore
• Temasek Holdings
• Food
• K3 Ventures