Asia's First Industrial Insect Company, Nutrition Technologies, Closes Us$20M Equity Round To Launch New Products And Expand Into New Markets
Asia's First Industrial Insect Company, Nutrition Technologies, Closes Us$20M Equity Round To Launch New Products And Expand Into New Markets
09/19/22, 8:33 AM
Location
singapore
Money raised
$20 million
On 19th September 2022 Nutrition Technologies completed an equity venture round of US$ 20m. The round was led by PTT Ventures and supported by Sumitomo Corporation, ING Sustainable Investments, Mandala Capital, as well as continued participation from existing investors: Openspace Ventures, SEEDs Capital and Hera Capital. The round was advised by ING Corporate Finance. The proceeds will be used to fund an expansion into new markets; launch new products; accelerate R&D; and create new strategic partnerships.
Company Info
Location
s singapore
singapore
Additional Info
Nutrition Technologies manufacture and supply sustainable insect proteins, oils and frass to help feed the growing aquaculture, agriculture and animal feed industries around the world. Their core products derive from a unique proprietary decomposition process that uses a combination of bacteria, fungi, yeasts and insects to recover nutrients from industrials and agricultural food waste. They have developed their own tropical production system which is not only low cost to build and operate, but also uses minimal energy and is a zero-waste process.
Their main production site and office is in Johor Bahru, Malaysia, with supporting sites in the UK, Vietnam and Singapore. In Johor Bahru they have grown a unique modular black soldier fly larvae (BSFL) production system, which embraces several cost-saving green technologies. By optimising the local climatic conditions they have been able to boost black soldier fly larvae efficiencies, quality and yields beyond industry standards.
Nutrition Technologies have developed research partnerships with key institutions throughout the region to develop their products and are conducting several feed trials on key consumer species.
In September 2017 Nutrition Technologies were the winner and audience favourite of the USAID sponsored Tech4Farmers Asia Challenge 2.0 competition, competing against a field of innovators from across Asia. In July 2019 they raised Series A funding led by Openspace Venture and joined by SEEDS Capital, an investment arm of Enterprise SG. Hera Capital further joined the NT team in late 2020.
Nutrition Technologies are proud to lead the charge in the region to offer sustainable insect protein and oils.