Tech

FlyFeed flies in the face of the global food crisis


fly feed has signed over $10 million in contracts and completed a $3 million investment round to launch Vietnam’s first insect farm, promoting the production of low-cost, highly nutritious protein for human consumption. claims to be

Founded less than a year ago, the company serves the 3 billion people facing food insecurity due to climate and global financial changes. The production process uses organic leftovers as food for the black sandfly (BSF) insect. This significantly reduces the final price of the protein produced. As a bonus, it also helps reduce the local food waste problem.

“The $5 billion investment in agtech in 2021 shows that fragile global food chains that rely on dwindling natural resources face new challenges and need change. In this case, insect proteins are an effective solution that can convert non-edible resources into nutritious proteins. farms to help solve the global food shortage crisis,” FlyFeed CEO and founder Arseniy Olkhovskiy said in an interview with TechCrunch. “There are many things in the world that we think are wrong, but the fact that global hunger still exists is the most ridiculous. Over 3 billion people cannot afford healthy food and Nearly a billion people live in food insecurity.The worst part is that this number continues to grow.Until we rethink the food chain, this situation will not change.Conservative agriculture will It was not designed to feed a growing population.”

In the first example, insects are used for animal feed and pet food, and future plans include turning insects into flour that can be used for human food in about five years. is to produce over 17.5 thousand tons of insect products per year, including insect fat, protein powder and fertilizer, and to process over 40,000 tons of organic leftovers for BSF feed, which are collected and processed free of charge. Partnerships with local governments.

The $3 million angel round will be used to establish operations in 2023, further develop technological solutions, and build Vietnam’s first industrial-scale farm to produce affordable proteins, oils, and insects from insects. produce fertilizer.

FlyFeed CEO and Founder Arseniy Olkhovsky said: Image credit: fly feed (opens in new window)

“Private funds invested and this seed round have allowed us to build an infrastructure that unlocks scale. Our production technology is developed by our specialist and world-class engineering team to A class team and advisory board to support A-Company with over $10 million in pre-agreement signed to secure resources in Vietnam for operations, validate demand and validate product development strategy says Olkhovskiy. “FlyFeed’s goal is to feed 250 million people a year, providing nutritious and healthy food to those who cannot access or afford it. It means everyone can live healthier, happier lives and be able to focus on what’s important to them, and all of this means using sustainable nutrients and fertilizers while helping nature, not harming it. We will provide it to other companies that produce food.”



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