Prince Khaled bin Alwaleed bin Talal Al Saud’s investment company, KBW Ventures, has committed more funds to Singapore biotech firm TurtleTree Labs.
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.
Investors taking part in the TurtleTree Labs seed round also include Green Monday Ventures, CPT Capital, Artesian, and New Luna Ventures.
“KBW Ventures has invested in the seed round building on our initial commitment during TurtleTree’s pre-seed raise. We see the founding team 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,” said Prince Khaled bin Alwaleed bin Talal Al Saud, founder and chief executive officer of KBW Ventures.
With multiple cross-functional teams working in parallel, TurtleTree co-founder and CEO Fengru Lin said, “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.”
TurtleTree Labs raised its initial investment which was led by New York-Hong Kong based Lever VC in 2019, with investors from various geographies. “This fresh round of funding will enhance our scale up development, bringing us one step closer to commercialization,” said co-founder Max Rye.