Next Gen Foods nabs Paul McCartney as investor

The start-up was founded by Timo Recker from Germany. He had already successfully built up a start-up before.

Next Gen Foods, a startup founded by Timo Recker from Lower Saxony, Germany, has received investment of $100 million in a Series A round. The total funding of Next Gen Foods, which is two years old, grew to more than $130 million as a result of the Series A investment. The meat substitute startup hopes to use the money to grow faster.

One of the investors should be well known to most people and guarantee the start-up attention: It's ex-Beatle Paul McCartney, who stepped in with his investment firm MPL Ventures, as industry portal Vegconomist reported. McCartney himself has been a vegetarian since the seventies and has been promoting less meat consumption for years.

The startup makes artificial chicken products that are supposed to have an authentic taste. Especially in various Asian countries, there is a real hype about next-gen foods products. In the U.S., the company's ersatz chicken product, "Tindle," is already available in all states.

Founder Timo Recker from Wetschen in Lower Saxony had made it in Germany with his start-up Like Meat, which also sold meat made from plant products. After two years, he sold the company. He founded Next Gen Foods, which is based in Singapore. However, the company operates globally, as Rohit Bhattacharya, chief financial officer at Next Gen Foods, explains, "Within a year of launch, we have transitioned to more than 200 restaurants on three continents. We will continue this relentless momentum in 2022 (...)."