Eat Beyond Portfolio Company
TurtleTree
Raises US$6.2 million
Vancouver, B.C. – December 17, 2020 -- InvestorsHub NewsWire
-- Eat
Beyond Global Holdings Inc.
(CSE:
EATS)
(OTCPK:
EATBF)
(FSE:
988)
("Eat
Beyond" or
the "Company"),
an investment issuer focused on the global plant-based
and alternative
food sector, is announcing that its portfolio company
TurtleTree
Labs
Pte. Ltd. ("TurtleTree")
has completed an oversubscribed
US$6.2 million Pre-A round from new and returning global
investors.
TurtleTree
has
offices in both Singapore and San Francisco and is using its
proprietary technology to create sustainable cell-based dairy milk
and infant nutrition milk. It is focused on producing milk and also
integrating the unique components of milk into products.
TurtleTree
is
committed to creating cruelty-free, sustainable food
systems.
"We
are thrilled to be involved with TurtleTree
and
look forward to being involved in its continued
growth and success," said Patrick Morris, CEO of Eat Beyond. "There
is tremendous potential in cell-based food products including meat
and milk, and TurtleTree
is
truly one of the companies leading this charge
globally."
TurtleTree
plans
to use the funds
to grow its team and accelerate research and production of the
highly functional, valuable bioactive proteins and complex sugars
in human milk. TurtleTree
aims
to have its first products in the market by 2021 and is working
closely with both regulatory
agencies and industry partners.
"Eat
Beyond Global is laser-focused on driving innovation in the food
sector and has put together a team of industry veterans to provide
support to the companies that they invest in. We are very excited
to be working together
with these experts to further our efforts to integrate the
functional components of milk into our partners' future products,"
said
Fengru
Lin, Founder and CEO of
TurtleTree.
Earlier this month,
Singapore became the first government to allow the sale
of cell-based meat
products. The country aims to shift its food production so that 30%
of food demand will be met by local agricultural production in the
next decade by using technologies such as cell agriculture and
vertical farming.
Eat
Beyond joins Prince
Khaled and KBW Ventures, Verso Capital, and Green Monday Ventures
in this Pre-A round.
About Eat Beyond Global Holdings
Eat Beyond Global Holdings Inc. ("Eat
Beyond") (CSE:
EATS)
(OTCPK:
EATBF)
(FSE:
988) is
an investment issuer that makes it easy to invest in the future of
food. Eat Beyond identifies and makes equity investments in global
companies that are developing and commercializing innovative food
tech as well as plant-based
and alternative food products. Led by a team of food industry
experts, Eat Beyond is the first issuer of its kind in Canada,
providing retail investors with the unique opportunity to
participate in the growth of a broad cross-section of
opportunities in
the alternative food sector, and access companies that are leading
the charge toward a smarter, more secure food
supply. Learn more: https://eatbeyondglobal.com/
Find Eat Beyond on
Social Media on LinkedIn, Instagram, Twitter
and Facebook
For media
inquiries, please contact: Brittany@Exvera.com
For investment
inquiries, please contact: Info@Eatbeyondglobal.com
For
further information, please contact Cindy Chiu at
Info@Eatbeyondglobal.com or
(236) 521-6499
