Next Gen Foods raises $20M to launch plant-based chicken in the US

Next Gen Foods has been planning to bring its plant-based chicken products to the United States, and now that it was able to raise $20 million, the Singapore-based food manufacturer is now preparing to execute its plan.

Tindle is on its way to America

Next Gen Foods owns Tindle, the plant-based chicken brand, and this will soon be sold in the U.S. as well. It was revealed that the company was able to raise funding for its plan after getting investments from major local companies, including Yeo Hiap Seng, Bits x Bites, Global Fund GGV Capital, Temasek, and K3 Ventures.

“The team's focus on product quality, brand recall, and distribution provide a strong foundation for the future growth of the company," GGV Capital’s managing partner, Jenny Lee, said in a press release. "Our partnership with the NextGen team is underpinned by our commitment to team up with founders who show real passion and flair in solving the fundamental challenges of our time - food sustainability is one of them.”

The Spoon reported that Dele Alli, an English professional footballer who plays as a midfielder for Premier League club Tottenham Hotspur and Chris Yeh, author of “Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies” have also invested. Their investment helped Next Gen Foods obtain enough funding for its goal of entering the U.S. market.

Expansion and job openings

In any case, the company already raised $10 million in March, so, with the latest addition of $20 million from investors, the funds now total $30 million. This will be used by Next Gen Foods to expand to America.

With its entrance into the U.S. market, Next Gen Foods will also open job hiring events to recruit more than 50 employees. It was said that the company will mostly hire people in the San Francisco Bay Area. The expenses for the hiring of new employees will also be covered by the funds raised.

Meanwhile, Next Gen Foods will not stop in the U.S. and will continue to expand overseas. It will be bringing its plant-based chicken and other products to the Middle East and countries in the Asia-Pacific.