Friday, September 25, 2020

Company producing milk from cells secures pre-seed funding

A Singapore-based company using biotech bypassing animals to produce milk from cells has completed its pre-seed funding round.

Co-founded by CEO Fengru Lin, CSO Rabail Toor, and Chief Strategist Max Rye, TurtleTree Labs claims to be the world’s first cell-based milk company using technology to create real milk from animal cells.

The company said its technology offers the “full functionality of dairy milk” but, it added, will also “disrupt the existing baby formula industry”.

The funding will be used to bolster the company’s scientific team and create additional protypes. According to Mr Rye, TurtleTree plans to publicly debut its first products in spring.

The pre-seed round, led by Lever VC, a venture capital fund specialising in alternative protein investments, includes 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.

“They are the first company in the world producing real, whole milk from cell cultivation — which opens the door for safer, healthier and customised dairy products that can be produced with far fewer natural resources.”

TurtleTree has developed a proprietary technology that uses mammary cells to produce real, full milk in clean food production facilities. The end product being the same as human breast milk and cow milk.

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