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Crickets on the menu: Ontario startup bets insect protein will make our food system more sustainable theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Investors not disclosed but from Asia, Canada Entomo Farms, a Canadian business making foods from insects, has closed a CAD3.7m (US$2.9m) funding round to support its growth and expansion. Ontario-based Entomo did not reveal the participants in a statement other than to say the round was led by investors in Asia and Canada. It also said the company plans a capital-raising exercise late this year. In 2018, Maple Leaf Foods, Canada s largest protein-centric packaged goods company, took a minority stake in the business amid an undisclosed cash injection in the form of a series A round. The company, founded in 2014 by brothers Jarrod, Darren, and Ryan Goldin, produces cricket-based protein powders, roasted crickets, and insect-based snack bars for human consumption and it also caters to the pet-food market. Entomo operates out of a 60,000 square-foot factory in Ontario. ....