Entomo Farms raises Series A funding from Maple Leaf Foods
Funds to be used for expansion of Entomo’s cricket farm.
NORWOOD, Ont.—Entomo Farms, North America’s largest insect farm for human consumption, says it has raised Series A funding from Maple Leaf Foods Inc., Canada’s largest protein consumer packaged goods company.
Founded in 2014 by brothers Jarrod, Darren and Ryan Goldin, Entomo Farms is providing a nutritious and sustainable alternative to traditional meat protein with its cricket and mealworm powders and whole roasted insects.
Nowadays, the company has 60,000 square feet of production space, providing insect protein ingredients to food companies around the world meeting consumer demand for alternative proteins and more diversity in their diets.
“From our first meeting with Maple Leaf Foods, we were impressed with their commitment to environmental sustainability, their expertise with scale farming, and their track record in marketing to consumers. These funds will allow us to expand production to meet increasing demand while Maple Leaf’s knowledge will help us continue to meet the needs of large food producers as we grow,” says company president Jarrod Goldin.
“Our minority venture investment in Entomo is consistent with our vision to be the most sustainable protein company on earth,” says Maple Leafs Foods president and chief executive officer Michael McCain. “Entomo Farms and Maple Leaf’s products will be separate, but we are excited to help foster their continued leadership in insect protein and aspiration to become the largest insect protein supplier in the world. We see a long-term role in this form of sustainable protein delivery, both for animal and human consumption, as it is elsewhere in the world.”
Crickstart is a company that makes crackers, and smoothie mixes with Entomo Farms’ cricket powder. Co-founder Daniel Novak says: “As a partner of Entomo Farms, we’re so excited to see this support for the company as well as for our industry from a protein market-leader like Maple Leaf.”
Entomo Farms products are available online from its website and at select retail stores, or in bulk volume by contacting the company directly.
About Entomo Farms:
Entomo Farms is North America’s largest human-grade edible insect farm, and now supplies over 50 companies in eight countries who are incorporating cricket and mealworm ingredients into a wide variety of foods such as protein bars, smoothies, chips, crackers, pasta and pasta sauce, baking mixes, hot dogs, and pet treats. Company information available at http://entomofarms.com.
About Maple Leaf Foods:
Maple Leaf Foods Inc. is a leading consumer protein company, making high quality, innovative products under national brands including Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Schneiders Country Naturals, Mina, Lightlife and Field Roast Grain Meat Co. The company employs approximately 11,500 people and does business in Canada, the U.S. and Asia. The company is headquartered in Mississauga, Ont. Company information available at www.mapleleaffoods.com.
Image of cricket powder (cricket flour) from http://entomofarms.com/product/cricket-flour/.