Next Gen Foods nabs Paul McCartney as investor

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

The start-up Next Gen Foods, founded by Timo Recker from Lower Saxony, has received an investment of 100 million US dollars in a Series A round. The total funding of Next Gen Foods, which is two years old, grew to over 130 million US dollars as a result of the Series A investment. The start-up for meat substitute products wants to use the money to grow faster.

One of the investors is probably well known to most people and guarantees the start-up attention: It is ex-Beatle Paul McCartney, who got on board with his investment company MPL Ventures, as the industry portal Vegconomist reported. McCartney himself has been a vegetarian since the 1970s and has been campaigning for less meat consumption for years.

The start-up produces artificial chicken products that are supposed to have an authentic taste. There is a real hype around next-gen food products, particularly in various Asian countries. In the USA, the company's substitute chicken product, "Tindle", is already available in all states.

Founder Timo Recker from Wetschen in Lower Saxony got off to a flying start 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 launching, we have expanded to more than 200 restaurants on three continents. We will continue this relentless momentum in 2022 (...)."