In a move set to change the insect industry, Singapore-based startup Insectta has announced a successful funding round of $1.4 million. The Trendlines Group led the round and saw participation from other investors, including Glocalink SG, Paragon Ventures I, and SEEDS Capital. The raised funds will help Insectta establish a pilot facility, increasing its production capacity thirty-fold.
This significant milestone will allow Insectta to develop further and scale its patented insect biomaterial extraction technology, an innovation that has already garnered attention from industry experts and potential customers. With this fresh capital, Insectta is poised for continued growth, solidifying its role as a critical player in the insect industry.
Unlike other startups focusing on insect protein, oil, and fertilizer, Insectta takes a unique approach. Its patented extraction process derives valuable functional products, including chitosan and melanin, from the black soldier fly (“BSF”). As a result, this insect species is considered one of the most economically significant in the industry.
The biomaterials extracted by Insectta are sought after by various industries, including pharmaceuticals, personal wellness, F&B, and organic electronics. In addition, the company aims to expand the use of insects beyond agriculture, transforming how we perceive and utilize these tiny creatures.
In addition to their patented extraction technique, the Insectta team has achieved a global first by extracting water-soluble melanin in unprecedented quantities. This groundbreaking development means end-users can look forward to purer chitosan and highly functional melanin. In addition, these products are competitively priced and derived from a process that is less energy-intensive and more sustainable than current extraction methodologies.
Co-Founder and Chief Marketing Officer of Insectta, Chua Kai-Ning, explained that the funding would be primarily used to complete the company’s first BSF chitosan and melanin extraction plant in Singapore. “Our pilot plant not only serves as a platform to industrialize our patented biomaterial technology but also helps us achieve our goals of increasing production capacity to meet current and future demands,” Chua said.
With this expansion, Insectta aims to pave the way for a future where our healthcare and electronics are powered by insects, demonstrating the incredible potential of these often-overlooked creatures.
Image provided by Insectta
