2021 Media Kit

'Cell-milk' lab gets a new round of funding

Biotech company TurtleTree Labs said it had raised US$3.2 million to fund cell-based milk development projects. Cell-based milk is from mammalian cells without the need for animals. TurtleTree Labs said it is the first biotech company in the world with the ability to create milk from all mammals. Using proprietary cell-based methods, the company plans to “shape the future of not just how consumers get dairy milk but how humans will feed their infants”. The lab is working with industry leaders to adopt their sustainable and safe methods to create milk.
"TurtleTree Labs' goal of creating milk from animal cells provides a novel solution towards sustainable dairy production globally. It would also help to strengthen Singapore's long-term food diversification efforts,” said Bernice Tay, director, Food Manufacturing Division, Enterprise Singapore.
She added: “We will continue our efforts to develop a vibrant agri-food tech ecosystem in Singapore to encourage the creation of more innovative solutions.”
Investors taking part in the TurtleTree Labs seed round are Green Monday Ventures, KBW Ventures, CPT Capital, Artesian, and New Luna Ventures.
"Food tech innovation in Asia is way overdue. If the rapidly deteriorating climate change situation isn't enough to convince the world, the pandemic surely hammers home the urgency. We need to overhaul the food system for the sake of public health, food safety, and food security,” said David Yeung, founder, Green Monday Group. “That explains why Green Monday Ventures is so excited to invest in and collaborate with TurtleTree Labs. We see immense possibilities in their biotech innovation platform, as well as the enormous impact we can drive together.”
According to market intelligence company Mintel, the increasing use of food science and technology to strengthen food supplies is one of the top key trends that will shape the global food, drink and foodservice industries in the next ten years.
Mintel added that science would interlace with the food supply chain to boost yields and combat climate change. For consumers to trust lab-grown food products, the food and drink industry needs to elevate the role of nature, and humans in the storytelling of these new, modern solutions. Celebrating the sustainable, health, and cost benefits of lab-grown food will be crucial in educating consumers about nature-identical alternatives, Mintel said. Transparency of information is essential to building trust in a future where scientists play an integral a role as farmers. And championing the people behind the food — whether it is grown in a laboratory or a field—will remain a timeless way of building trust with consumers, the research firm concluded. (Image from Unsplash)

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