TurtleTree Labs chief scientist Rabail Toor.
TurtleTree Labs, a start-up that uses technology to create milk from animal cells, has completed its pre-seed funding round.
Singapore-based TurtleTree has developed a proprietary technology that uses mammary cells to produce milk, with no animal needed.
The round was led by Lever VC, a venture capital fund specialising in alternative protein investments, with participation from KBW Ventures and K2 Global.
“What TurtleTree Labs is doing is fascinating, and their technology could be a serious disruptor in the global dairy industry,” said Nick Cooney, founder and managing partner at Lever VC.
TurtleTree Labs was co-founded by CEO Fengru Lin, CSO Rabail Toor and chief strategist Max Rye.
TurtleTree Labs chief strategist Max Rye and CEO Fengru Lin.
Fengru Lin said the focus now is to bring in the right talent during the company’s early stage to provide it with the support needed for “rapid acceleration”.
“We believe the entire landscape of human breast and traditional bovine milk will be transformed as a result of our technology,” she said.
Prince Khaled bin Alwaleed bin Talal Al Saud, founder and CEO of KBW Ventures, added: “KBW Ventures’ interest in TurtleTree stems from both the team vision and the company’s strategic approach to the future of food using stem cell technology.
“Having spent time with the founding team in Singapore, we have a lot of confidence in TurtleTree’s progress as a biotech company and in the direction they are taking from a business perspective.”
© FoodBev Media Ltd 2020