Insect tech startup Protenga announced that it has received investment support from The Yield Lab Asia Pacific to expand its 2nd generation smart insect farm production platform.
Protenga expands smart insect farm with new fundingOne of the circular economy initiatives Protenga announced The Yield Lab Asia Pacific as its latest investor. The company said, “Looking to an eventful and successful 2022, we are delighted to welcome The Yield Lab Asia Pacific as our latest investor in Protenga, closing our current funding round for the first time. As we further expand Protenga’s operations, we look forward to working with The Yield Lab Asia Pacific team and accessing their extensive network of relevant industry experts.”
The company will evaluate The Yield Lab Asia Pacific’s investment in the 2nd generation smart insect farm production platform. SEEDS Capital and JBI Innovations also attended the first close.
“The Yield Lab has a fantastic Asia Pacific and Global reputation and presence, and the expertise to back it. We are strongly aligned with their mission to sustainably revolutionize agrifood systems thanks to our scalable renewal nutrition production platform” said Leo Wein, Founder and CEO of Protenga.
Protenga’s technology production platform is developing fast, with current insect farming facilities having reached several key productivity and cost milestones this year.
Based on these operating validations achieved in 2022, Protenga’s second generation Smart Insect Farm blueprint will see its first deployments together with strategic partners in 2023.
The company is positioned to be a key partner of the palm industry in Malaysia, Indonesia and beyond by up-cycling palm by-products and thus increasing the sustainability of their operations.
The expansion of the product line reached a new milestone with the launch of Protenga’s wet pet food product portfolio and being among the top 3 awardees at the Interzoo 2022 Fresh Ideas competition earlier this year.
Protenga is now the first and only company globally producing wet dog food with fresh insect proteins. As pet owners embrace insect protein as the superfood of the decade for their furry friends, this new funding will support the commercial development in 2023 to reach millions of dogs with healthy, sustainable, and delicious food. With Protenga’s pet food, dogs are becoming climate heroes!
“Protenga’s vertical integration, unique technology, and production platform, as well as its circular solution which utilizes Palm waste to supplement the insect protein’s highly nutritious food source provides a sustainable solution relevant to this Asia Pacific region, with the finished product benefiting the global Pet food and Aquaculture industries.
Protenga’s fast growing insect protein reduces the strain current industry branded Pet food impose on the world’s crop and livestock, while at the same time providing the Pet owner with the traceable quality, high nutrition and flavor profile they demand for their four-legged family members. In addition, Protenga’s innovation being developed for Aquaculture feed is unique and important across many fish and seafood species.
All combined The Yield Lab Asia Pacific looks at Protenga’s insect protein platform as a flexible, sustainable and highly nutritious base for Pets and hundreds of fish species. Both Pet and Aquaculture are fast-growing markets.
The Yield Lab Asia Pacific looks forward to working with Leo and his team as they exceed their next wave of commercial growth and market expansion,” said Claire Pribula, Managing Director of The Yield Lab Asia Pacific.