Insect Protein Startup Raises $14.2M to Accelerate Market Expansion

FreezeM, which breeds Black Soldier Flies (BSF) to be then processed into protein meals to feed livestock, has raised $14.2 million in a series A funding round to accelerate market expansion. 

FreezeM’s mission is to make insect farming simple and accessible using breeding solutions for the emerging BSF farming industry.

The startup takes the pain out of the process by breeding and supplying ready-to-use flies – in suspended animation, so they can easily be transported.

FreezeM aims to simplify BSF reproduction and increase protein yield through the supply of its PauseM product to BSF protein producers. PauseM is delivered in boxes of tiny, BSF larvae – each less than 0.5mm – in suspended animation and the farmer revives them simply by opening the package and placing them on organic waste.

FreezeM says it’s addressing a desperate need for sustainable alternatives to soy and fishmeal, the most widely-used proteins for animal feed.

With the decrease in food security around the world, FreezeM believes that its BSF breeding will play a role in reducing waste and increasing food production and protein for livestock. 

“The current funding round will enable FreezeM to embed our technology globally at scale and accelerate the growth of our breeding hubs in Europe and Israel, thereby driving successful commercial expansion,” FreezeM’s co-founder and CEO Dr. Yuval Gilad said in a press release. 

With the decrease in food security around the world, FreezeM believes that its BSF breeding will play a role in reducing waste and increasing food and protein for livestock. 

The funding round included the European Innovation Council Fund, which has previously given FreezeM €6.3 million, and other industrial investors

“Our technology unleashes the insect market from its shackles and will propel the insect protein market to fulfill its true potential,” Gilad said.