Beta Hatch, a company that industrializes the production of insects as a sustainable animal feed protein, today announced the closure of its A1 Series funding. Co-led by Cavallo Ventures, the venture capital arm of Wilbur-Ellis and the early-stage venture firm Innova Memphis, the round also included investment by Klein Private Equity Investment and Brighton Jones Investment Partners.
Beta Hatch develops insect-rearing technology that converts organic waste directly into high-value proteins, oils and nutrients for poultry and aquaculture, making it cost-effective for insects to meet global demand for plant and animal nutrients.
“Insects have the potential to be the most sustainable protein in the world,” said Virginia Emery, Founder and CEO of Beta Hatch. “This new funding allows us to break the ground on the construction of our sustainable flagship facility, so that we can scale up production on a commercial scale to meet the existing demand for thousands of tons, and to continue developing our technology to further reduce costs and increase efficiency. “That’s right.
Cashmere’s new flagship facility, Wash , will be the largest food worm production facility for animal feed in North America, with the capacity to produce a ton of insect protein per day. The facility is scheduled to be operational at the beginning of 2021 and will be partially powered by waste heat from the adjacent data center to reduce electrical needs.
“A number of markets will benefit from access to a new source of healthy, sustainable alternative feed ingredients,” said Son Vo, Managing Director of Cavallo Ventures. “This funding supports an essential next step towards commercialisation, which will enable Beta Hatch to meet the needs of these markets while offering an innovative way to produce feed for our food, starting with aquaculture. “That’s right.
“Whether for aquaculture, poultry or even domestic pet market use, we clearly see the opportunity presented by Beta Hatch to address the need for more sustainable feed protein sources,” said Dean Didato, Partner, Innova Memphis. “The Beta Hatch team has developed a number of innovative solutions to increase insect growth and mechanical processing efficiency that provide a competitive edge in space. In addition, as consumers want to know more about the origin of their food and how it is reared, harvested and processed, Innova fully believes that these trends will drive further market adoption of insect proteins. “That’s right.
Beyond funding, Beta Hatch’s contributions to the scientific community continue to grow as the Company recently completed the first published assembly of the genome of yellow mealworm. The genome will be published in the Summer 2020 Journal of Insects as Food and Feed as part of an open source article and will serve as an important resource for the scientific community to further research into mealworm and other commercially relevant insect species.
Beta Hatch About
Beta Hatch was founded in 2015 as a pioneer in the insect farming industry through an innovative fusion of engineering and entomology. With a combination of trade secret processes, patent-pending equipment, and superior genetic resources, Beta Hatch is developing the tools needed to grow insects on an industrial scale to disrupt plant and animal nutrition. www www Betahatch: Come on,
About the companies of Wilbur-Ellis
Founded in 1921, Wilbur-Ellis is a leading international marketer, distributor and manufacturer of agricultural products, animal nutrients and specialty chemicals and ingredients. By developing strong relationships, making strategic market investments and capitalizing on new opportunities, Wilbur-Ellis companies have continued to grow their business with sales of more than $3 billion. Please visit www for more information. Wilburelli Come on,
Inc. Cavallo Ventures It is the venture capital arm of Wilbur-Ellis, investing in companies and technologies that are aligned with its four business divisions-Agribusiness, Nachurs Alpine Solutions, Nutrition and Connell.
Innova is an early-stage venture capital firm, founded in 2007, which focuses on starting and financing high-growth companies in the fields of Medical, Technology and AgTech that match both Innova’s expertise. Innova has invested in more than 120 companies and has been recognized as the most active early stage investors by both Crunchbase Forbes and SSTI. Innova provides a synergy of experienced management, market expertise and venture capital to accelerate the development of new products and services to thriving businesses. For more information, please visit www Innovamenhis Come on,
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