Singapore: Singapore-headquartered TurtleTree Labs, a biotech startup producing milk using cell-based technology, announced today it has closed a US$6.2 million in an oversubscribed pre-Series A round of funding.
Both existing and new investors, including Green Monday Ventures, Eat Beyond Global, KBW Ventures, and Verso Capital, joined the round.
As per a press note, the startup will use the funds to accelerate the research and production of functional, bioactive proteins and complex sugars found in human milk. These high-value components have potential benefits in gut and brain health, which can be applied to both infant and senior nutrition.
Founded in 2019, TurtleTree, which also has an office in San Francisco, uses its proprietary technology to produce full milk in clean production facilities from mammary cells.
“The vision of TurtleTree Labs is to create a truly sustainable and cruelty-free food system,” said Max Rye, Chief Strategist of TurtleTree Labs.
“TurtleTree’s technology is able to significantly reduce our carbon footprint and address food resilience in the long term. This is a win-win for our planet and for communities,” said Lim Hock Chuan, CEO, Temasek Foundation Ecosperity.