In Vancouver, cell-based milk firm TurtleTree Labs Pte. Ltd. has raised $6.2 million in an oversubscribed $6.2 million Pre-A round.
TurtleTree, a portfolio company of alternative food investment issuer Eat Beyond Global Holdings, plans to use the funds to grow its team and accelerate research and production of the highly functional, valuable bioactive proteins and complex sugars in human milk. TurtleTree aims to commercially launch its first products in 2021.
TurtleTree has an office in Singapore, which recently became the first country to approve the sale of cell-based meat products and aims to have 30% of food demand met by local agricultural production in the next decade. Cell agriculture and vertical farming are integral to meeting this goal.
Prince Khaled and KBW Ventures, Verso Capital, and Green Monday Ventures also participated in the Pre-A funding round.