Wednesday, April 14, 2021

Brazilian creates startup, receives US $ 10 million and becomes a sensation … in Singapore

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Alongside a German partner, the Brazilian André Menezes managed to convince the capital fund Temasek, which has already contributed companies such as Adyen, Tencent e PayPal, to invest 10 million dollars in a startup created last year, without any product launched and that operates in Singapore. Or rather, he didn’t have to convince anyone. Investors were already eager to contribute Next Gen, which works with plant-based foods.

The investment by Temasek, which included the participation of investors such as K3 Ventures, EDB New Ventures, NX-Food, FEBE Ventures and Blue Horizon, will give Next Gen the financial strength it needs to launch its own vegan chicken, called of TiNDLE. Made with soy, the product will hit the market next month and will be destined entirely to restaurants … in Singapore.

Alongside Malaysia, Singapore is part of a region in Asia that has become a kind of Silicon Valley to the food techs, food startups. Especially for those who want to challenge the traditional food industry plant-based. In addition to Next Gen, companies like Green Monday (Hong Kong) and Hero (China) are also in the region. It is also worth remembering the American Beyond Meat, which landed in China in recent months

For Temasek (and the other funds involved) it is the opportunity to guarantee participation in a business that still operates in an embryonic market. The global vegetable protein segment is expected to reach $ 85 billion by 2030, according to a report by Swiss consultancy UBS.

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