FlyFeed claims it signed more than $10 million worth of contracts and closed a $3 million round of investment to launch its first insect farm in Vietnam, in its push to produce low-cost, high-nutrient protein for human consumption.
The company was founded less than a year ago and is targeting the three billion people who are facing food insecurity due to climate and global financial shifts. The production process uses organic leftovers as food for the black soldier fly (BSF) insects, which significantly reduces the final price of manufactured protein. As a bonus, it also helps reduce local food waste issues.
“Five billion dollars invested in agtech in 2021 shows that the fragile g …
