Entocycle, a UK insect technology company, has received a $5 million Series A investment led by Climentum Capital and other investors, including Lowercarbon Capital and Teampact Ventures. The funding will help Entocycle expand its black soldier fly (BSF) farms and waste management facilities worldwide.
Entocycle, the UK’s leading insect technology company, has received a significant investment of $5 million in a Series A funding round led by Climentum Capital, a climate-tech venture capital firm based in Copenhagen, Berlin, and Stockholm. The investment includes contributions from Lowercarbon Capital, Teampact Ventures, ACE & Company, and prominent athletes such as Antoine Dupont, Nikola Karabatic, James Haskell, and Antoine Brizard.
The funding will help Entocycle expand its commercial roll-out of products and services related to black soldier fly (BSF) farms and large-scale waste management facilities worldwide. The growth of insect proteins, such as BSF larvae, is crucial in reducing deforestation, overfishing, food waste, as well as improving food and feed security. The global BSF market is expected to grow at a compound annual growth rate (CAGR) of 30.5% from 2022 to 2033 and reach $3.96 billion.
Entocycle’s flagship product, the Entosight™ Neo, is an optical sensor-based software and hardware package that monitors and collects data on the health and productivity of BSF colonies. The technology reduces the need for manual processes, leading to higher feed conversion rates, lower mortality rates, and larger insects on farms. The company also offers a turn-key modular fly cage, a highly efficient breeding system, and a full BSF farm design, commission, and build service.
The investment is a boost for the environment and the growth of alternative proteins, such as insects, that play a crucial role in reducing deforestation, overfishing, and agricultural waste pollution, as well as improving food security. The global insect protein market is expected to reach 3 million tonnes and be worth $9.46 billion by 2030.
Entocycle founder Keiran Whitaker says, “We’re powering this fast-growing industry globally and helping build a more sustainable and secure future for food and feed.” Climentum Capital’s General Partner, Yoann Berno, adds, “We finally have a solution to decentralize and localize production, solve the global feed shortage, and accelerate the transition towards low-carbon alternative proteins.”
Entocycle was founded in 2016 to accelerate the shift to insects as a sustainable protein source in food and feed. The company has built two successful pilot facilities in the UK. The company’s farm design and build service allow large-scale food producers and waste management companies to convert organic waste into high-value insect proteins, fats, and fertilizers. The company’s cutting-edge technology, combined with its full range of products and services, will ensure its position as a leading global player in the rapidly-growing insect industry.
Image provided by Entocycle