-KH News Desk (cbedit@imaws.org)
Next Gen Foods, the producer of plant-based chicken brand TiNDLE, has acquired Mwah, a dairy-free gelato startup, for an undisclosed amount. Next Gen Foods had previously invested in Mwah two years ago and also led their seed funding round in 2022. The acquisition is expected to help Next Gen Foods expand its product offerings while meeting the increasing demand for sustainable food experiences. Mwah’s co-founders, Damian Piedrahita and Claudia Comini, will become new shareholders in Next Gen Foods and will continue to lead Mwah’s brand as they oversee R&D and business expansion. They plan to introduce signature creamy and indulgent products this year with their unique, best-in-class gelato experience.
Next Gen Foods raised $100 million in a series A round and has support from Alpha JWC, EDBI, MPL Ventures, and existing investors, Temasek’s Asia Sustainable Foods Platform and GGV Capital. Next Gen Foods plans to expand into multiple categories to create the impact they want. Andre Menezes, who co-founded Next Gen Foods, said that when they met Mwah’s co-founders, they were impressed with their unique products and R&D capabilities and their entrepreneurial drive to make it a global brand.
Next Gen Foods will showcase their new range of faux chicken products at Expo West in California, including nuggets, patties, popcorn, tenders, and wings. They will also feature a recipe made with Mwah’s latest Madagascan Vanilla gelato and TiNDLE’s new retail-ready products. This marks the first time both products will be shown in the US following TiNDLE’s recent grocery debut across over 6,000 stores in Germany.
