World - Dutch startup Protix raises €15.5M to breed insects for aquaculture; here's how

A Netherlands-based insect farming startup Protix is working towards bringing the food system back in balance with nature.

Many projections have suggested that the world population will reach over 9 billion by 2050. This means that the current food production will also have to be doubled. In light of worsening resource shortage, several foods have been proposed as alternatives, with insectsreceiving the most attention. This is because insects have the amazing ability to turn low-grade food waste into valuable high-end proteins and fats.

In this regard, a Netherlands-based insect farming startup Protix is working towards bringing the food system back in balance with nature.

The funding

In a recent development, the Dutch startup has announced that it has raised €15.5M in a fresh round of funding led by existing aquaculture-focused investor Aqua-Spark.

In addition, Rabo Corporate Investments, Brabant Development Company, and Dutch investment agency Invest-NL also participated in the round.

This is Invest-NL’s first investment of € 7.5M with a direct contribution to the protein transition in the AgriFood sector and also falls in line with the National Protein Strategy.

What does Protix do?

Founded in 2009 by Kees Aarts, Protix believes in harnessing the technology to produce the ingredient of the future – insects. The company farms Black Soldier Fly (Hermetia illucens) mainly for use in animal and aquaculture feed, with sidelines including frass-based fertiliser.

The company claims that this particular fly’s larvae provide a unique source of protein for food and feed. Organic waste from the food industry serves as feed for the insects. And in turn, the insects are processed into sustainable ingredients like proteins and lipids.

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Read also Cultivating an ocean food revolution « Global AquacultureAdvocate  aquaculturealliance.org