Forbes Article Retracted on Turtle Tree Labs Alleged $80M Funding Round

  • A Recent article on Forbes claimed that a recent $80 million series A fundraise for Turtle Tree Labs was led by VERSO Capital.
  • Turtle Tree employee Joant Úbeda contacted several people to threaten them with imprisonment unless the article is taken down. 
  • The original article was written by Douglas Yu at Forbes. 

Newstrail believes that it is in the public interest, more specifically investors, that the following information is shared:

A Recent Forbes article was retracted after an emloyee by the name of Joant Úbeda contacted various news publishers to threaten them with legal consequences and “imprisonment” for sharing information leaked to the press. One of the threat letters contained the following information:

“Defamation of a corporation is punishable by imprisonment up to one year or with a pecuniary penalty (PC, Art. 364, Paragraph 1), while aggravated defamation of a corporation is necessarily punished by imprisonment (PC, Art. 364, Paragraph 2).” 

The precise details of the Forbes article were as follows:

” TurtleTree Labs expects to launch its first products in the U.S. using its cell-based dairy ingredients through multiple B2B partnerships in September, and fully commercialize its cultured milk within the next four to five years, according to the Singaporean biotech startup.

The move is enabled by TurtleTree Labs’ recent $80 million series A fundraise, led by VERSO Capital, coupled with the firms’ previous $3.2 million and $6.2 million seed and pre-A funding, respectively.

TurtleTree Labs, which is currently building a R&D and large-scale manufacturing facility in Davis, California, says the newly raised capital will also fuel its continued development of IP technologies, research on new applications, and team expansion to include world-class scientists, product management and business development associates.

Citing higher efficiency and a more environmentally-friendly processing than the traditional $800 billion global dairy industry, cell-based milk is quickly amassing investor interest from both private and public sectors with Israel-based BioMilk recently becoming the world’s first cultured milk company to go public.

VERSO Capital, which has led TurtleTree Labs’ latest round with $20 million, taking board membership of the company, will leverage its knowledge of corporate finance and operations…”

Other publishers who have so far refused to be intimidated by Joant Úbeda: