Image courtesy of TiNDLE
TiNDLE, a vegan chicken brand, owned by Singapore-based Next Gen Foods, has secured $100M, which the company says is the largest ever amount to be raised in a Series A round by a plant-based meat company.
New investors contributing to the funding round include, Alpha JWC Ventures, and MPL Ventures, which is owned by Sir Paul McCartney.
Other returning investors include, K3 Ventures, Temasek, GGV Capital, and Bits X Bites.
The total funding raised for the brand now stands at around $130M.
TiNDLE aims to use this recent funding to develop its expansion into other countries worldwide. It is currently operating in Singapore, Hong Kong, Dubai, and Amsterdam, and expands into the USA this week.
The brand is currently being made available to consumers in restaurants, as it partners with selected chefs to use its products on their menus before they are launched in supermarkets.
The plant-based chicken alternative is now available in restaurants across the States, in New York, Philadelphia, Miami, Los Angeles, San Francisco, and Napa.
U.S. food suppliers can also order TiNDLE products from today (15.02.2022), through one of the country’s biggest re-distributors, DOT Foods.
Andre Menezes, CEO and Co-Founder of Next Gen Foods, said: “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.
“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 made from a unique blend of plants, fats and flavouring which the company calls Lipi. This mixture is said to be able to give the brand’s products a distinctive chicken-like flavour, texture and composition, which makes it suitable for cooking in conventionally chicken-based dishes.