Nex Gen Foods raises $100 million for plant-based chicken

Nex Gen Foods will bring its plant-based chicken product TiNDLE to the U.S. after the Israel-based food startup closed a $100 million Series A funding round.

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Chef Chad Rosenthal...s TiNDLE Picnic Chicken Sandwich
Chef Chad Rosenthal...s TiNDLE Picnic Chicken Sandwich
TiNDLE

Nex Gen Foods will bring its plant-based chicken product TiNDLE to the U.S. after the Israel-based food startup closed a $100 million Series A funding round.

"There's no question that the United States is home to some of the best food cities on the planet – and we're excited to bring TiNDLE to this market and hear what consumers think," said Andre Menezes, CEO and co-founder of Next Gen Foods. 

"The U.S. has long been a target market for us, and thanks to our lineup of fantastic investors who have participated in this funding round, this is only the beginning of our journey in delivering delicious and sustainable foods to reverse our climate crisis."

This is the largest Series A to date for a plant-based meat company, the startup said. Total funding for the company now exceeds $130 million.

Investors include Alpha JWC, EDBI, MPL Ventures, Temasek’s Asia Sustainable Foods Platform and GGV Capital.

Plant-based chicken alternatives currently make up about 8% of the meat alternative market, according to data from NPD Group. However, they are primed for significant growth within the next 12-18 months.

TiNDLE, a plant-based chicken analog

TiNDLE features Nex Gen Food’s proprietary emulsion of plant-based ingredients, a mixture of nine ingredients that includes soy, oat and sunflower oil.

The plant-based chicken is designed to “mirror the aroma, cookability and savory qualities that typically comes from chicken fat” and high in protein in fiber, containing no antibiotics, hormones, cholesterol or genetically modified ingredients, according to a press release from Nex Gen Foods.

TiNDLE is now available at several foodservice restaurants across the U.S. and through Goldbelly. Additional cities will be added in the next few months.

"I was very impressed with TiNDLE. As a non-vegan chef, I can definitely vouch that this product is very close to mimicking the flavor and texture of chicken," shared Joshua Yap, Executive Chef at BAIA in San Francisco.

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