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Temasek-Backed Plant-Based Chicken Maker in Singapore Secures Funds to Enter U.S.

  • Temasek-backed Next Gen Foods raises additional $20 million
  • Extended seed round values the startup at almost $180 million
relates to Temasek-Backed Plant-Based Chicken Maker in Singapore Secures Funds to Enter U.S.

Source: Next Gen Foods Pte. Ltd.

Plant-based chicken maker Next Gen Foods Pte raised $20 million from investors including GGV Capital, Bits X Bites and food and beverage maker Yeo Hiap Seng Ltd. to enter the U.S., the world’s biggest market for plant-based foods.

Existing backers including Temasek Holdings Pte and K3 Ventures joined new investors including author Chris Yeh and football player Dele Alli in the startup’s extended seed round. The additional capital, which brought the entire seed round to $30 million, valued the firm at almost $180 million from about $40 million in February, according to the company.