Entomo Farms has raised undisclosed amount in Series A funding from Maple Leaf Foods (TSX: MFI)
Founded in 2014 by brothers Jarrod, Darren, and Ryan Goldin, Norwood, Ontario based Entomo Farms is an insect farm for human consumption. The company is providing a nutritious and sustainable alternative to traditional meat protein with its cricket and mealworm powders and whole roasted insects. The company has grown to 60,000 square feet of production space and supplies its insect protein ingredients to dozens of food companies around the world who are meeting consumer demand for alternative proteins and more diversity in their diets.
“From our first meeting with Maple Leaf Foods, we were impressed with their commitment to environmental sustainability, their expertise with scale farming, and their track record in marketing to consumers. These funds will allow us to expand production to meet increasing demand while Maple Leaf’s knowledge will help us continue to meet the needs of large food producers as we grow,” said Jarrod Goldin, President and Co-Founder.
“Our minority venture investment in Entomo is consistent with our vision to be the most sustainable protein company on earth,” said Michael McCain, President and CEO. “Entomo Farms and Maple Leaf’s products will be separate, but we are excited to help foster their continued leadership in insect protein and aspiration to become the largest insect protein supplier in the world. We see a long-term role in this form of sustainable protein delivery, both for animal and human consumption, as it is elsewhere in the world.”
“As a partner of Entomo Farms, we’re so excited to see this support for the company as well as for our industry from a protein market-leader like Maple Leaf,” said Daniel Novak, Co-Founder of Crickstart, which makes protein bars, gourmet crackers, and smoothie mixes with Entomo Farms’ cricket powder.
Entomo Farms products are available online from its website and at select retail stores, or in bulk volume by contacting the company directly.
photo credit: Entomo Farms