# TurtleTree Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/turtletree-labs

- Industry: Food
- Headquarters: Singapore, Singapore
- Website: www.turtletree.co
- Total disclosed funding: $10M
- Latest round: Seed (Nov 10, 2020)
- Investors on record: 6

## About

TurtleTree Labs is a biotechnology company that pioneers cellular agriculture, focusing on lab-grown milk products that replicate dairy’s nutritional profile while minimizing environmental impact.Founded in 2019 and headquartered in Singapore, TurtleTree Labs specializes in cellular agriculture, particularly lab-grown dairy products. The company was established by Fengru L, who has a background in biotechnology. TurtleTree Labs raised USD 32.91 mn in a SERIES A funding round, led by VERSO Holdings, with participation from multiple investors. The total amount raised by the company to date is USD 32.91 mn, and it has completed 5 investment deals. The company's current valuation is USD 379.002 mn.TurtleTree specializes in innovative solutions within the biotechnology sector, focusing on cellular agriculture. The company's core offerings include lab-grown milk products, which utilize advanced cell-culturing techniques to replicate the nutritional profile of traditional dairy without the environmental impact associated with conventional dairy farming. These products address the growing consumer demand for sustainable and ethical food sources, aiming to reduce the ecological footprint of milk production while catering to health-conscious consumers. TurtleTree's products are designed for a diverse client base, including food manufacturers, retailers, and direct consumers, primarily in North America and Europe, where interest in sustainable food alternatives is rapidly increasing. The company has also positioned itself in the Asian market, tapping into regions where dairy consumption is significant and growing, thus expanding its potential customer reach.TurtleTree's revenue structure is predicated on a B2B model, with the company engaging in partnerships with food manufacturers and retail chains to distribute its lab-grown dairy products. The transactions typically involve bulk orders of its trademarked offerings, with pricing models reflecting the innovative technology and sustainable practices behind the products. Clients are likely to enter into long-term contracts, ensuring a steady supply of TurtleTree's unique offerings while allowing for flexibility in pricing based on order volume. Additionally, the company may offer subscription-based services for regular delivery to its client base, optimizing inventory and ensuring product availability. For the year 2023, TurtleTree recorded a revenue of USD 0 and an EBITDA of USD -13,597,228.TurtleTree Labs plans to expand its product offerings, focusing on new lab-grown dairy variants set to launch by the end of 2024. The company also aims to penetrate additional Asian markets, targeting regions with high dairy consumption, expanding its reach significantly. Recent funding will support these initiatives, including the development of new products and market expansion efforts.

## Funding rounds

- Seed, Nov 10, 2020, $10M — Artesian, K2 Global, KBW Ventures, CPT Capital, Lever VC, Digital Asset Technologies

## Investors

- Artesian (https://capitalatlas.ai/funds/artesian) — Seed
- K2 Global (https://capitalatlas.ai/funds/k2-global) — Seed
- KBW Ventures (https://capitalatlas.ai/funds/kbw-ventures) — Seed
- CPT Capital — Seed
- Lever VC (https://capitalatlas.ai/funds/lever-vc) — Seed
- Digital Asset Technologies (https://capitalatlas.ai/funds/digital-asset-technologies) — Seed