KBW Ventures joins investors as TurtleTree Labs raises US$3.2 million seed round
Singapore-based biotech company, TurtleTree Labs, has completed a fresh round of funding from global investors. Investors taking part in the TurtleTree Labs seed round are Green Monday Ventures, KBW Ventures, CPT Capital, Artesian, and New Luna Ventures.
TurtleTree Labs is the world’s first cell-based biotechnology company creating real milk from mammalian cells, without the need for animals. As a platform, the company’s focus is on high value human breast milk followed by cow milk.
Over the past year TurtleTree Labs has attracted world class talent, currently boasting a team of more than 20 full-time scientists and engineers. With multiple cross-functional teams working in parallel, co-founder and CEO, Fengru Lin says, “Our team is hungry, passionate and knows what it takes to accelerate to market. I’m so inspired when even the most junior scientists are sharing ideas of cutting costs or identifying better suppliers.”
Prince Khaled bin Alwaleed bin Talal Al Saud, Founder and Chief Executive Officer of KBW Ventures, said, “KBW Ventures has invested in the seed round building on our initial commitment during TurtleTree’s pre-seed raise. We see the founding team’s commitment and the potential of this company and its technology as a winning combination. Now more than ever, people are waking up to the benefits of food technology and the massive positive implications of innovations in cellular agriculture.”
With support from the Singaporean government, the startup has been privy to an array of resources that provided TurtleTree Labs with a tremendous financial boost, enabling it to continue working during the COVID-19 pandemic.