German native Timo Recker had a family business that made schnitzel and other meat products for nearly three generations. Then things changed.
In 2020, Timo and Brazilian-born poultry exporter and food industry veteran Andre Menezes, after meeting through an introduction by Rohit Bhattacharya, decided to work on products that reduce humanity’s reliance on animal agriculture. And Next Gen Foods was born.
The early leadership team – including Rohit who is now the startup’s Chief Financial Officer together with the 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 2020 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 being served in more than 200 restaurants across the United States, Asia, Middle East and Amsterdam.
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.
It features the distinctive flavour of chicken, thanks to Lipi – the company’s proprietary emulsion of plant-based ingredients that mirror the aroma, cookability and savoury 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.
Funding growth
The Singapore-headquartered food tech company recently completed a US$ 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 US$ 30 million that took place last summer. Total funding for the startup now exceeds US$ 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’ acceleration to bring TiNDLE to key markets around the globe like the United States. It also supports expansion of TiNDLE – and its chef-first approach – into US foodservice and distribution, along with the research and development of new sustainable foods.
“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, who is now CEO and Co-Founder, Next Gen Foods.
He added, “The US 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.”
The new funding will help to increase distribution of TiNDLE throughout all 50 states in the US. Distributors nationwide can now exclusively order the product through DOT Foods – the largest food redistributor in America for over 60 years. Restaurants can order TiNDLE directly through their local distributor, or it is also available for purchase on FoodServiceDirect.com – the convenient online marketplace for quality food and supplies. Restaurants in the San Francisco Bay Area can also acquire through Cheetah, a local e-commerce marketplace, serving the best restaurants in the region.
Innovation and product development
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 and the United States to include additional protein scientists and food technologists with ingredient and product development expertise.
“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. 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,” said Rohit.
“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, GGV Capital.
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.
As a versatile, easy-to-work-with, plant-based chicken, TiNDLE 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.
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 personality and grillmaster, Chef Chad Rosenthal – are already innovating and cooking with TiNDLE. Chef Rocco recently joined the company as a culinary advisor and consultant.
Interested chefs and operators looking to add TiNDLE to their menu can contact partners@tindle.com for details and samples.
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