Cell-based milk producer TurtleTree Labs secures fresh investment

TurtleTree Labs, a Singapore-based biotech company, has secured an investment of $6.2m to fast-track the development of its cell-based milk solutions.

The oversubscribed Pre-A funding round saw participation from the company’s new and existing investors including Green Monday Ventures, Eat Beyond Global, KBW Ventures and Verso Capital.

The company focuses on creating real milk from mammalian cells without the need for animals.

TurtleTree Labs chief strategist Max Rye said: “The vision of TurtleTree Labs is to create a truly sustainable and cruelty-free food system. We are grateful to have the support of leading investors from every corner of the world.”

TurtleTree Labs intends to use the fresh investments to accelerate its research and production of functional, bioactive proteins and complex sugars found in human milk.

The company said that the functional components have the potential benefits in gut and brain health, for use in infant and senior nutrition.

Cell-based milk producer also announced that Prince Khaled bin Alwaleed bin Talal Al Saud, a global investor in the alternative protein sector will join the company as an advisor via KBW Ventures.

As the advisor of TurtleTree Labs, Prince Khaled will outline new market growth plans, as well as offer his expertise in the alternative protein and food tech segment.

Additionally, Prince Khaled will also coordinate with the founding team on other areas of the business.

In June, TurtleTree Labs secured investment in a funding round joined by global investors.

The company raised $3.2m in the funding round and the Singaporean government provided a financial boost to help the company to continue its operations even during the Covid-19 pandemic.