Temasek joins $22m round of Singapore plant-based meat maker

Growthwell Foods, a Singapore-based manufacturer has raised US$22 million in its latest round of funding. 

The manufacturer of plant-based alternatives for meat and seafood, has announced it has raised $22 million in a Series A funding round led by Creadev. Located in Singapore, Growthwell Foods aims to expand its business and production development by making sustainable and nutritious plant-based offerings. Growthwell said it is also ramping up its production and distribution capacity through an end-to-end technology centre.

The funding round also included participation from GGV Capital, Iris Fund (Iris Capital and Hanwha, supported by Penjana Kapital) and existing investors Temasek and DSG Consumer Partners.

“We are extremely pleased to have global investors like Creadev and GGV Capital onboard Growthwell as we look to scale up our plant nutrition business beyond Southeast Asia,” said Justin Chou, executive director of Growthwell Foods.

He continued: “We are thankful to have the conviction and continual support of existing investors like Temasek and DSG Consumer Partners as Growthwell continues to further strengthen and grow the team beyond the family members. We believe our current series A fundraising round is one of the largest in the Southeast Asia food tech space and we will continue to trailblaze plant nutrition in Asia.”