Home MedTech & BioTech TurtleTree Labs bags US$ 6.2M in pre-Series A round

TurtleTree Labs bags US$ 6.2M in pre-Series A round

Singaporean Startup

TurtleTree Labs bags US$ 6.2M in pre-Series A round
TurtleTree Labs bags US$ 6.2M in pre-Series A round
Singapore-headquartered biotech startup TurtleTree Labs has bagged US$ 6.2M in an oversubscribed pre-Series A round of funding held in November 2020, from Green Monday Ventures, Eat Beyond Global, KBW Ventures, and Verso Capital.
According to a press note released by the startup, it will use the fresh funds to fast-track research and production of useful, bioactive proteins and complex sugars found in human milk. These high-value components are said to benefit the gut and brain health, which can be applied to both infant and adult nutrition.
The startup has also declared that Prince Khaled bin Alwaleed bin Talal Al Saud, an esteemed global investor in the alternative protein sector via KBW Ventures, will join TurtleTree as an Advisor. In this role, Prince Khaled will plan new market growth strategies, guide the startup in the alternative protein and food tech spheres, and coordinate thoroughly with the founding team on other areas of the business.

Founded in 2019 by Fengru Lin, TurtleTree is a biotechnology startup that produces milk using cell-based technology. It uses its patented technology to produce full milk in clean production facilities from mammary cells. It aims to address the value gap created by an inadequate and unsustainable animal-based dairy industry. The real milk produced by the startup is essentially free of pollution, inefficient use of land, water and energy (natural resources), pathogen and disease risk, and complicated regulatory politics.

Max Rye, Chief Strategist of TurtleTree Labs said, “The vision of TurtleTree Labs is to create a truly sustainable and cruelty-free food system.”

Lim Hock Chuan, CEO, Temasek Foundation Ecosperity said, TurtleTree’s technology is able to meaningfully reduce our carbon footprint and address food resilience in the long term. This is a win-win for our planet and for communities, he concluded.

TurtleTree also won the Entrepreneurship World Cup in October 2020, where it secured US$ 500K in cash prize.

The startup had previously raised a pre-seed funding round in early-2020 from investors such as KBW Ventures, Lever VC and K2 Global.

About Green Monday Ventures

The Green Monday platform is a multi-pronged social venture model aimed at shifting the public in the direction of sustainable living. It encourages the adoption of a plant-based diet for at least one day per week to fight climate change, food insecurity, public health crisis, planetary devastation, and animal suffering. 

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Aishwarya writes about the startup ecosystem on VCBay. She is a third-year Computer Science engineering student who looks forward to exploring the world of startups and finance.



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