Singapore-based Insectta Bags Seed Funding From Trendlines Agrifood Fund

Trendlines Agrifood Fund

Investment marks second deal for Trendlines Agrifood Fund

Singaporean biotech startup Insectta has secured seed funding of an undisclosed amount from Israel-based medical and agritech investor and incubator Trendlines Group’s Trendlines Agrifood Fund, according to a statement released on Monday.

Initially conceptualized as an insect farm producing alternative proteins for animal feed, the 2017 founded startup focuses on the extraction of biomaterials from insects to be used across industries such as agriculture, pharmaceuticals, and electronics.

“Trendlines’ focus on innovative, technology-driven solutions is exactly what we are looking for in a strategic partner. With their help, we aim to increase the value and diversify the products attained from food waste valorization,” Co-Founder of Insectta Chua Kai-Ning said in the statement.

The startup emphasizes that it is Singapore’s first urban insect farm to rear the black soldier fly, which is commonly used to compost waste or convert into animal feed. Insectta also converts food waste into valuable biomaterials such as chitosan, organic semiconductors, and proteins and probiotics in animal feed.

Insectta’s flagship technology helps to produce the semi-synthetic material chitosan sustainably and cost-effectively, the statement noted. Chitosan’s physical and chemical properties make it suitable for biotech applications such as in biomedical engineering, food, and biodegradable plastics.

While chitosan is mostly extracted from crustaceans using chemicals, Insectta focuses on obtaining the ingredient from insects without harsh chemicals. The startup uses byproducts from insect farms as raw materials for extraction, the statement added.

It also said that Insectta’s biorefinery process helps to product materials including chitosan that are “estimated to triple the larvae’s final product value”.

In addition to biomaterials, Insectta also provides black soldier fly products, such as larvae or frass, which support sustainable composting, fertilizer, and animal feed solutions.

Earlier last year, Insectta was one of five social impact startups to be recognized by the Lotus-NUS Fund, a collaboration between Lotus Life Foundation and NUS Enterprise for National University of Singapore (NUS)-affiliated social impact startups. The startup received a grant of SGD 25,000 (about US$17,000) as seed funding.

“Insectta brings a unique technology for producing high-value materials from the insect industry’s waste. Our investment represents the fund’s commitment to investing in technologies developed and implemented in Singapore; and addressing food and other issues in a sustainable way, using innovative knowledge and a team with proven capabilities,” Trendlines Agrifood Fund CEO Nitza Kardish noted in the statement.

She added that the startup will move into the Fund’s new office, and that their first products are expected to be retailing commercially by the time it completes its first year of operation.

The investment in Insectta is the Fund’s second investment so far, after it joined BASF Venture Capital, Fortissimo Capital and Roquette in backing Israel-based seed breeding startup Equinom’s $10 million financing round in February this year. The Fund contributed $1.6 million of the total.

The Group participated with a slew of other investors in Israel-based artificial intelligence crop protection company AgroScout’s $3 million financing round.

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Off-Chain vs. On-Chain Crypto Transactions: Which One Is Better?

Off-Chain vs. On-Chain Crypto Transactions: Which One Is Better?

Knowledge is power; when it comes to cryptocurrency, the more you know, the better financial decisions you will make. There is a lot to learn within the cryptocurrency space, such as how the different layers of blockchain technology work and which blockchain has the fastest transaction speed. Another important thing you need to know regarding blockchain transactions is the differences between off-chain and on-chain transactions—and which one can save you more money!

5 Essential Tricks to Master Microsoft Excel

5 Essential Tricks to Master Microsoft Excel

Microsoft Excel (MS Excel) is a must-have for any business. It is a powerful spreadsheet software application that allows users to store, organize and analyze data. While Excel is fairly easy to use, it can be tricky to become an expert. Don’t know where to start? We have compiled a list of easy-to-follow hacks that will help you become a pro at Excel!

Top Three Weirdest Mobile Game Advertisements

Top 3 Weirdest Mobile Game Advertisements

Whether on YouTube or Instagram, I’m sure you all must have seen at least one mobile game advertisement. One common trope with today’s mobile game advertisements is that they tend to mislead their audience.
You might have come across these weird ads while scrolling through social media: In the ad for the strategy game “Game of Sultans”, a sultan is fat-shaming his daughter; in the match-three puzzle game “Lily’s Garden” ad, women use washing machines as vibrators.

The Maximalist Fashion Trend Where Did It Come From and Where Is It Going

The Maximalist Fashion Trend: Where Did It Come From and Where Is It Going?

If you Google “maximalist fashion”, you will be swamped with dressing guides dedicated to this “the more, the better” trend published by leading fashion magazines in 2022. Rapidly gaining popularity in the last couple of years, maximalist styles are breaking out of the runway of an Haute Couture fashion show, a red carpet event or a K-pop performance to conquer streets in high fashion neighborhoods.

How Is Technology Influencing the Food and Beverage Industry

How Is Technology Influencing the Food and Beverages Industry?

Food waste, sustainability and animal cruelty are some of the biggest challenges facing the food and beverage (F&B) industry nowadays. Like any other sector, the industry is dipping its toe into technology and innovations to seek solutions. While we are already seeing more food tech solutions in our everyday lives, like plant-based meat alternatives and food waste management startups.