Prince Khaled’s KBW Ventures joins $6.2m funding round for US biotech startup

Prince Khaled’s KBW Ventures has joined other existing investors for a 6.2 million Pre-A funding round for TurtleTree Labs.

Other investors participating in the oversubscribed funding round include Green Monday Ventures, Eat Beyond Global and Verso Capital.

TurtleTree Labs is a biotech company pioneering the method to produce milk using cell-based technology.

The company, which has offices in San Francisco and Singapore, will use the funds to accelerate research and production of functional, bioactive proteins and complex sugars found in human milk. These components have potential benefits in gut and brain health, which can be applied to both infant and senior nutrition.

Read: Prince Khaled’s KBW Ventures invests in US-based organic seed startup

The company also announced that HRH Prince Khaled bin Alwaleed bin Talal Al Saud, a prominent global investor in the alternative protein sector through KBW Ventures, will join TurtleTree Labs as an advisor. KBW Ventures first invested in the TurtleTree Labs seed round announced in June 2020 and has committed additional capital to the latest round, the Pre-A raise.

In his role as advisor, Prince Khaled will help shape new market growth plans, lend his expertise in the alternative protein and food tech spheres, and liaise with the founding team on other areas of the business.

“TurtleTree Labs’ groundbreaking technology, which allowed our company to win The Liveability Challenge and Entrepreneurship World Cup, has certainly attracted interest from a global and diverse panel of investors and customers,” said Fengru Lin, CEO of TurtleTree Labs.