Temasek-backed alternative protein firm sets foot in Germany

Singapore-based foodtech startup Next Gen Foods is launching its plant-based chicken substitute in Germany.

Next Gen Foods COO Alex Ward / Photo credit: Next Gen Foods

Over the next few weeks, the company’s flagship alternative chicken product Tindle will be offered in six cities and 40 stores in Germany, though the firm plans to expand to more cities and restaurants in the future.

Germany is the third European market for Tindle after it expanded to the Netherlands and the UK. Next Gen Foods COO Alex Ward told Tech in Asia that the company is targeting restaurants in its new market that can offer several plant-based dishes.

“As we get a foot in the door and we get the brand launched, then we are preparing for retail sometime next year to get the product into supermarkets,” he said.

The company plans to tap into the downtrend of meat consumption among customers in Europe. In Germany, the number of Next Gen Foods restaurant partners could grow by 5x to 10x from the initial 40 by the end of the year, Ward predicted.

“Globally, we’re in 500+ restaurants. I’d expect that to be two to three times higher by the end of the year,” he added.

Ward also said that the foodtech firm is preparing a distribution network in Europe in case its partners want to offer the product in additional countries in the region.

In February, Next Gen raised US$100 million in series A funding from Alpha JWC Ventures, EDBI, and MPL Ventures, among others.

See also: Alt-meat makers race for palatable prices