The global protein market for animal feed is projected to grow to €437 billion by 2030. However, recent regulations limiting farmers’ usual sources of protein such as fishmeal and soy mean that the market will face issues with logistic and geopolitical situations. At least $107 billion is expected to be the annual global protein market for populations without a healthy diet.
Raises $3M Seed Funding
FlyFeed is an Estonian international startup in the field of insect farming. In 2016, they raised $3 million from angel investors. This money was used to establish operations, develop new technological solutions and construct Vietnam’s first industrial-sized farm. This farm will produce oils, fertilizers and cheap proteins from insects in 2023.
In order to create their first factory, FlyFeed was given space on Vietnamese government land. The company has said they will have over 10 farms in Africa, India and Vietnam by 2026. Additionally, the Vietnamese government supports the company’s plans to use organic waste as feed.
Future changes to the global food chain necessitate employing insects as a viable protein source. As inedible resources, they could be transformed into edible ones through the addition of insect proteins. This is because of the global food crisis caused by the use of limited natural resources. With Arseniy Olkhovskiy, CEO and Founder of FlyFeed at the helm, 10 farms will be opened in Africa and Asia by 2026. These facilities will contribute to solving this crisis.
Black soldier fly larvae are raised in a controlled environment for the production of their slurry. This mixture is then processed, mixed, and ground into a powder. Additional processing is necessary before the mixture is added to various formulations. Several aspects of farm production are automated with the help of state-of-the-art technology. These include computer vision used on larva development and temperature control via smart thermostats. Dr. Nathalie Berezina, a Ph.D. in organic chemistry and Biotechnology, is the Chief Technology Officer for the 2nd generation of insect technology. She said the applications of this generation are used for industrial processes involved with the creation of insects.
Eco-Friendly Protein To Feed The World
In 2021, Arseniy Olkhovskiy founded the international fly farming startup FlyFeed. It produces protein, fat and fertilizers from black soldier flies for animal feed and pet food. They also produce these nutrients for human food in the future.
In an effort to address food insecurity and the current recession, FlyFeed plans to contract 3 billion people’s top feed producers from Europe. The startup designs diets from insect protein produced from organic waste. This helps reduce the cost of manufactured proteins and solves issues related to food waste in local governments.
FlyFeed wants to provide 3 billion people with food security by producing protein . Currently, their target audience is the top European feed producers. In order to produce protein at the lowest price , they use organic insect remains as a feed source. This leads to lower production costs and avoids food wastage— which solves issues with governments handling food waste.