Eat Beyond Portfolio Company TurtleTree Secures $30 Million in Series A Financing
Eat Beyond Global Holdings Inc. (OTCPK: EATBF) announces that its portfolio company TurtleTree has successfully secured US$30 million in Series A financing, led by VERSO Capital. This brings TurtleTree's total funding to over US$40 million. Headquartered in Singapore, TurtleTree is innovating cell-based technologies for sustainable food and dairy products, including cell-based milk and precision fermentation ingredients. The new financing will enhance TurtleTree's R&D capacity and support its U.S. expansion plans.
- TurtleTree raised US$30 million in Series A financing, increasing total funding to over US$40 million.
- The financing will enable TurtleTree to enhance R&D and expand its presence in the U.S.
- TurtleTree added a 24,000 sq ft R&D facility in Sacramento to improve precision fermentation technology.
- None.
VANCOUVER, BC, Nov. 8, 2021 /PRNewswire/ - 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 protein sector, announced that its portfolio company TurtleTree, has secured US
TurtleTree is a Singapore-headquartered biotech company that is using cell-based technologies to create sustainable food and dairy. It is pioneering the production of cell-based milk to replace traditional synthetic infant formulas and is also developing precision fermentation technology for the production of the highly functional ingredients found in human milk such as lactoferrin.
"This financing will enable TurtleTree to continue its U.S. expansion plans, increase R&D capacity and help it to drive forward the development and manufacture of its first consumer-ready products," said Eat Beyond CEO Michael Aucoin. "Eat Beyond will continue to support TurtleTree as it grows within the United States and beyond. We are very excited about the tremendous potential for this industry and are pleased to be working closely with TurtleTree as it stakes its place as a true leader in the space."
TurtleTree recently added a 24,000 sq foot R&D facility in Sacramento to enhance its precision fermentation technology.
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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/
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FAQ
What is the significance of TurtleTree securing US$30 million in Series A financing for EATBF?
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