20 Things You Didn’t Know About Next Gen Foods

Plant Based Food

The trend for plant-based meat products is picking up throughout the world. Alternative proteins without animal products in the formulation offer people with preferences for vegetarian and vegan diets more choices. The products are beginning to show up as options on fast food menus as well as in your local grocery retailers. Next Gen Foods is a food technology company specializing in the production of plant-based meat products with the appearance and flavor of the meat. Foods produced by the new startup are protein-rich and packed with nutrients. If you’re not yet familiar with this company, here are twenty things you probably didn’t know about Next Gen Foods.

1. Next Gen Foods is a brand new company

Crunchbase confirms that Next Gen Foods is a new startup that has been in business for less than two years. The company launched in 2020. The headquarters is based in Singapore. The legal name of the enterprise is Next Gen Foods PTE. LTD, but it is also known as TiNDLE.The enterprise is still in its infancy and developmental stages of growth. It is listed on the internet under the Food Processing, Food, and Beverage, Organic Food, and Retail categories.

2. Next Gen Foods uses a complex array of technologies

The Next Gen website is powered by a complicated assortment of actively used technologies. In all, it uses thirty-eight technologies to produce a smooth and seamless experience for visitors to the website. Some of the technology products and services include SPF, iPhone Mobile Compatible, Viewport Meta, and several others. The website is also accessible to mobile users. The company has not yet shared its annual IT expenses, but we estimate that the technology products and services subscriptions easily run into the tens of thousands of dollars yearly. The overhead is just the cost of doing business.

3. Next Gen Foods maintains uniqueness in the alternative proteins industry

Plant-based meat products are gaining popularity throughout the world. New startups are springing up, employing new technologies to produce meat alternative products that are practically indistinguishable from the real thing in looks, taste, and texture. Next Gen Foods secured three registered trademarks in the Meats and prepared or preserved foods; dairy products category, which helps them to maintain an edge in the market with unique trade secrets in the production process that cannot legally be copied or imitated by any of its competitors.

4. Web traffic to the Next Gen Foods site is growing

The number of monthly visits to the Next Gen website has grown over the past thirty days. The total number of visitors to the website was 3,374. This represents a monthly visits growth of 252.19 percent. Next Gen Foods achieved the rank of number 2,529,378 of the millions of websites registered on the world wide web. The numbers are provided by the analytics reports obtained from the company.

5. Next Gen Foods is the most popular in Singapore

Most of the web traffic to the Next Gen Foods website comes from people living in the country of Singapore. Ninety-five percent of visitors are from this country. Five percent of the web traffic is from people in Slovenia. Less than one percent of the visitors are from Indonesia. The numbers may seem low but when you consider the fact that this company launched in 2020, it shows great progress within a short time.

6. Next Gen Foods is led by a 4-member executive leadership team

The executive leadership team for Next Gen Foods is still small, but they’re doing an exceptional job. Andre Menezes is a co-founder and Chief Executive Officer of the company. Timo Recker is a co-founder and Chairman of Next Gen Foods. John Seegers is the Chief Technology Officer. Jean Madden is the CMO of the company.

7. Next Gen Foods is a venture capital-backed enterprise

Next Gen Foods has participated in five rounds of venture capital fundraising. The company has raised a total of $132.2 million with the most recent round of Series A funding closing on February 15, 2020. Most of the fundraising rounds have been Seed rounds. The company is still in its early stages of fundraising, but it has attracted the attention and support of several wealthy investors.

8. Next Gen Foods has high investor confidence

Investors have high confidence in this enterprise’s ability to become a profitable company and provide a healthy return on investments made. Remarkably, Next Gen Foods has secured the backing of sixteen investors to get the company off the ground and fully operational in a short time. The most recent investors to join the fundraising efforts include K3 Ventures and Alpha JHWC Ventures. Other investors include MPL Ventures, Temasek Holdings, Bits x Bites, EDBI, GGV Capital, Dele Alli, and several others.

9. TiNDLE is a part of Next Gen Foods

Techcrunch explains that TiNDLE is a component of Next Gen Foods that maintains a focus on developing plant-based chicken called TiNDLE. It is a part of the larger Next Gen Foods company and also the name of a product. This is the company’s prime focus at the moment.

10. Next Gen has stiff competition

The alternative meat market with plant-based products is a new trend that is picking up steam in popularity and production is an emerging market. It has tremendous potential for providing nutritional alternatives for people who prefer not to eat animal products. The company is a newcomer in an industry that has established companies churning out similar products. Its biggest competitors are Beyond Meat, Impossible Foods, Modern Plant-Based Foods, and Very Good Food company. These are the plant-based meat producers currently providing products for the market. These companies have been in operation for longer and have secured clients for their product distribution.

11. Next Gen Foods is not concerned about competition

The leadership of Next Gen Foods shared that they’re not concerned about other companies that offer similar products. The emerging plant-based meat industry still has plenty of room to grow. The chicken-based alternative they offer is still an open market without saturation. The company has kept an asset-light business model they feel confident about. The company is gaining traction and they don’t view other companies as competition. Their greatest concern is about companies providing unsatisfactory products to the public, which could damage the reputation of all plant-based food companies.

12. Next Gen Foods is expanding its operations

The latest round of investor funding is already earmarked for the growth and expansion of the company. $100 million will go toward expanding the Next Gen Foods products and introducing them into the US market and fortifying the research and development center, under construction in Singapore. Next Gen Foods plans to quickly expand its operations into the United States in 2022. We should see the products more readily available in the months to come.

13. Next Gen products are healthy

A primary concern of the executives at Next Gen Foods is to ensure that the products are healthy and nutritious. The plant-based chicken alternatives are free of cholesterol and GMOs. These are attractive features that entice those who exclude animal products from their diet, and it supersedes cultivated meat products in this manner, cutting out much of the competition. The products may help to provide healthier alternatives for meat-eaters looking for ways to improve their health and well-being through diet changes.

14. A founder of Next Gen owns another alternative meat company

Timo Recker is a co-founder of Next Gen Foods. He brings significant experience in the alternative meat industry. He is also the founder of LikeMeat, a German-based company. He combined his knowledge with the expertise of the company’s other co-founder Andre Menezes, who worked for one of the largest exporters of poultry before becoming the GM of Country Foods, a Singapore-based food distributor. He has the background for the business end of the operation while Recker brings the expertise for developing plant-based meat products. It’s a strong and winning combination of knowledge and skills that set Next Gen Foods up for success from the beginning. The successful career histories of the founders and their combined expertise gave investors high levels of confidence in their ability to launch a successful company.

15. US Distributors have access to TiNDLE

The plant-based chicken alternative TiNDLE is now available to distributors throughout the United States. The products can be ordered through DOT Foods. The company is the US’s biggest food redistributor. TiNDLE is also available through FoodServiceDirect.com, as well as for San Francisco Bay area restaurants through Cheetah. We may see Tindle offered at our favorite restaurants in as little as a few weeks. It’s already offered on the menus of many restaurants in Philadelphia, New York, Napa, Los Angeles, and San Francisco. The next restaurants slated to receive shipments are in Austin, Texas, and Miami, Florida.

16. Next Gen Foods has a brilliant business model

Next Gen Foods is keeping its assets light to increase profits. The business model they’re following includes partnering with production companies in the United States and other markets, to use their production facilities. This eliminates the need for building production plants and it saves the company millions in overhead expenses. They plan to make a global expansion using this model. Next Gen Foods is putting its efforts into reinforcing the building of its research and development facilities in Singapore. This helps to keep overhead costs down and put more effort into product improvement and adding new options to the product lines. the product roster for TdiNDLE includes pre-prepared nuggets or tenders. They’re deferring to the experts in production to handle the actual creation of the product using the recipes/formulas developed by the research and development team. They will follow this model in every country throughout the world but have committed to QC to ensure that all production plants use the same processes to ensure quality and consistency across the product lines in each country.

17. Next Gen Foods is good for the environment

Another goal of Next Gen Foods is to do its part to help lessen the impact of climate change. The company commits to providing solutions. It offers a sustainable business model that uses materials and ingredients that are sustainable without impacting the environment. The company also plans to add other plant-based meat alternatives along with chicken products. They’re envisioning this will happen several years down the road as the focus remains on chicken for the time being.

18. Next Gen is still a small operation

LinkedIn lists 46 employees currently working for Next Gen Foods. The company is small, but the company announced that it plans to add more plant and food scientists to its research and development team in Singapore. No jobs are currently available at the company, but we expect this status to change in the months to come. Statistics for the business show a thirty-five percent growth rate in employees over the past six months. The unique business model used by Next Gen Foods cuts down on the number of employees required to make the operation a success.

19. TiNDLE is a soy-based food product

The chicken alternative TiNDLE is a soy-based food product that includes texturized soy and wheat proteins. It also contains sunflower oil, coconut oil, methylcellulose, oat fiber, and natural flavors that give it the distinct flavor of chicken fats. The company did not disclose the precise “natural” flavors. People who are allergic to soy protein may wish to look for an alternative product.

20. Next Gen Foods is a company to keep your eye on

Next Gen Foods is a privately owned company. You won’t find shares of stock listed on any of the public stock exchanges, at least, not yet. Our research found no indication of plans to take the company public at this time, however, it’s a young company and anything can happen in the months and years to come. This is a new startup that bears watching. It’s currently working with private investors.

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