Next Gen Foods, which owns plant-based chicken brand TiNDLE and dairy-free gelato producer Mwah!, has announced a strategic media partnership.
The food tech startup has secured advertising volumes in a media-for-equity deal with SevenVentures, the investment arm of leading German media and digital company ProSiebenSat.1. With an eight-figure value, the investment will help to increase consumer awareness of TiNDLE in Germany, where the brand launched last summer.
Next Gen Foods will work with SevenVentures to develop tailored media promotions and advertising solutions within ProSiebenSat.1’s high-reach channels and platforms. The investment will also support long-term awareness-building around the plant-based food category.
The new partnership comes after Next Gen Foods raised $100 million in a funding round last year, in what it claimed was the largest ever Series A round for a plant-based meat company. Temasek and Sir Paul McCartney’s MPL Ventures were among the investors.
New audiences
Recently, Next Gen Foods lowered the price of TiNDLE from EUR 3.49 to EUR 2.99, a 14% reduction. This was made possible by increased distribution and economies of scale; the brand’s Schnitzel, Nuggets, Tenders, Wings, and Popcorn are now available at Germany’s largest retailer, EDEKA Group.
TiNDLE also arrived in the UK last year, quickly rolling out at almost 200 restaurant locations including fried chicken chain Miss Millie’s. The brand made its UK retail debut this April, launching at 350 Morrisons supermarkets nationwide.
“With a strategic partner like SevenVentures, there is potential to introduce TiNDLE to new audiences, but also unlock opportunities for consumers to better understand the broader role that plant-based foods play in fighting our global climate crisis. We are thrilled to introduce them as our latest mission-aligned investor and utilize their media expertise to bring greater awareness to our category and our efforts to create a more sustainable food system,” said Andre Menezes, CEO and co-founder of Next Gen Foods.
