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Founders of foodtech start-up Next Gen, Mr Timo Recker (left) and Andre Menezes at Three Buns Quayside.- ST
SINGAPORE (The Straits Times/ANN): Local food tech start-up Next Gen has raised US$10 million (S$13.2 million) in its recent financing round, as it gears up to launch its alternative chicken product.
Among its investors are Temasek, the Economic Development Board s (EDB) New Ventures arm, Singapore-based tech venture capital firm K3 Ventures and Zurich-headquartered food tech venture fund Blue Horizon, Next Gen said in a statement on Thursday (Feb 25).
This follows its earlier founder capitalisation of US$2.2 million which it launched last October.
Trillion-dollar market: Singapore halal authority seeks to smoothen export journey for food firms Singapore halal authority MUIS has highlighted several guidelines for food firms to heed in order to smoothen their product export process - including prioritising consistency and labelling - as it encourages the local industry to tap into the trillion-dollar market.
According to Majlis Ugama Islam Singapura (MUIS), the sole authority issuing and regulating halal certification in Singapore, halal food firms looking to export their products need to ensure consistency in their documentation, especially when also exporting to countries with a strong halal focus.
“One of the key things that needs to be highlighted is the importance of traceability - [this does not necessarily mean using advanced technology] but that there must be no break in terms of traceability when it comes to matching names, ingredients, contact details and so on,” MUIS Assistant Hea