Singapore-based global food tech firm Next Gen Foods developed plant-based chicken, TiNDLE is planning to step into the UAE market in September this year.
The expansion plans come after the company received an extended seed round of $20 million, after an initial seed round of $10 million which was, already the largest seed round funding for a plant-based food tech company, according to Pitchbook.
Launched in early 2021, the first TiNDLE product, TiNDLE Thy is sold in over 70 restaurants in Singapore, Hong Kong and Macau. Chefs can easily use TiNDLE Thy to prepare dishes in multiple culinary applications, and for many kinds of cuisines including Middle Eastern, Western, Chinese, Indian and more.
The company plans to utilize the new funding for its entry into the UAE market which is planned for September 2021. In a recent study on plant-based diets in the UAE, conducted by YouGov, an international research data and analytics group, it was revealed that 45 percent of UAE diners prefer plant-based meals over the past year. There has been a surge in healthy meal planning across the UAE as residents prioritize nutrition and wellbeing.
TiNDLE meets the nutritional guidelines for the Healthier Choice Symbol administered by Singapore’s Health Promotion Board due to its lower sodium and lowers saturated fat content as compared to regular plant-based meat alternatives.
“The Middle East is a key market for us given its high consumption of chicken. We are putting our foundations in place to be in the market as we accelerate our goal of becoming the number one plant-based chicken in the region. Investors in the region have started supporting companies that are driving a positive change in our food systems and we already see a lot of interest coming from consumers and chefs.”
Fine food specialist Classic Fine Foods will be distributing TiNDLE in the UAE, bringing market knowledge, network, and profound understanding of consumer trends.
TiNDLE will also use the extended funding for continued international expansion in the GCC region, APAC and the US.