Singapore-based CellAg startup awarded $1 million in funding with additional perks
TurtleTree Labs, the world’s first-cell based biotechnology company creating real milk from mammalian cells without the need for animals, was awarded the first prize in the prestigious Temasek Liveability Challenge.
As one of seven finalists in the event, Singapore’s TurtleTree Labs pitched virtually during the final vying for the first prize of $1 million undiluted funding. Presented by Temasek Foundation and organized by Eco-Business, the Liveability Challenge Grand Finale took place on July 8 with a wider view of supporting the United Nations Sustainable Development Goal #11.
In addition to the $1 million from the Temasek Foundation, TurtleTree was granted $100,000 in investment funding and a spot in the Antler accelerator program from Planet Rise.
The panel of judges were impressed by the technology, noting that the startup’s science addresses both food security and climate change in terms of reducing traditional agriculture. The company’s potential for scalability and price-competitive business model also warmed the judges.
TurtleTree Labs most recently announced its seed round of $3.2 million from Green Monday Ventures, KBW Ventures, CPT Capital, Artesian, and New Luna Ventures in June building on its initial pre-seed funding in 2019. The company’s co-founders highlighted the extensive support of Enterprise Singapore, explaining that its help fueled TurtleTree Labs’ continued success during the pandemic period.