Insectta, a leading company in the insect industry and portfolio company of the Trendlines Group (SGX: 42T:OTCQX: TRNLY), announced that it has raised S$1.4 million in a funding round led by the Trendlines Agrifood Fund, with participation from 3 other investors: Glocalink SG, Paragon Ventures I and SEEDS Capital. The funds will be used to set up a pilot facility, allowing Insectta to increase its production capacity 30-fold. This new investment marks a significant milestone for the company, enabling further development and scaling up of their insect biomaterial extraction technology, which has already attracted the attention of industry experts and customers alike. With this new capital, Insectta is poised for continued growth and expansion, solidifying its position as a key player in the insect industry.
Co-Founder and Chief Technology Officer Phua Junwei commented, “We’re very excited to continue our journey with the Trendlines Agrifood Innovation Centre. Their continued support serves as a key resource for our growth, and we will continue to tap into their insights into the biomedical, sustainability and agritech spaces to help us accelerate our progress. We look forward to having the pilot plant serve as the stepping-stone for manufacturing and selling our biomaterials on a large scale, paving the way for a future where our healthcare and electronics are powered by insects.”
Anton Wibowo, CEO of Trendlines Agri-Food Innovation Centre, added, “We are proud to continue our support of Insectta’s development, serving not only as lead investor, but strong believers in the impact Insectta makes in the sustainability, biotechnology, and insect industries. We’ve seen how the company and its technology have grown exponentially since their first investment and are confident in their abilities to progress from here.”
Proprietary and Patented Technology
In a market brimming with insect protein, oil, and fertilizer startups, Insectta stands out as a game-changer. Rather than following the crowd, Insectta’s patented extraction process allows them to derive highly sought-after functional products, including chitosan and melanin, from the black soldier fly (“BSF”), spotlighted as one of the most economically important insect species. These biomaterials are in high demand by industries such as pharmaceuticals, personal wellness, food & beverage, organic electronics and more. Insectta has set its sights on expanding the applications of insects beyond just agriculture.
Alongside their patented extraction technique, the Insectta team has also achieved another global first – the ability to extract water soluble melanin in unprecedented quantities. End-users can expect a cleaner, purer, chitosan and highly-functional melanin at an extremely competitive price – all derived from a circular process that’s less energy-intensive and more sustainable than current extraction methodologies.
Pilot Production Facility
Insectta’s focus is to scale its technology by completing its first BSF chitosan and melanin extraction plant in Singapore. Insectta’s Co-Founder and Chief Marketing Officer Chua Kai-Ning remarked, “Our pilot plant not only serves as a platform to industrialize our patented biomaterial technology but also helps us achieve our goals of increasing production capacity to meet current and future demands. We plan to use our pilot plant to foster strategic connections with industry players and clients and are excited to be making larger quantities of BSF chitosan and melanin to tailor to the high interest with an eye towards expanding our reach for commercial opportunities and leveraging the pilot plant to its full potential.”