EntoCube to spread its wings internationally
Pioneering insect farming technology provider EntoCube has raised hundreds of thousands of euros in new funding.
EntoCube reveals that it will use the 360 000 euros received from domestic investors to ramp up the production of edible insects and introduce new insect-based products to the shelves of grocery shops in Finland. The company is also training its focus on the rest of the globe.
“The invested capital will be used for expanding our insect production capacity rapidly, launching new products and internationalisation,” says Perttu Karjalainen, the co-founder and chief executive of EntoCube. “Our growth objectives are very ambitious.”
Karjalainen is confident that the funds, expertise and experience provided by the new investors will allow the company to reinforce its position as one of the leading companies in the edible-insect industry. The new investors include restaurateur Henri Alén and HYY Group, a corporate group promoting responsible business operations.
The newly completed funding round was only the second for EntoCube. The company was founded four years ago with the objective of developing efficient production methods for insect farming and introducing insects to the so-called regular Western diet.
EntoCube presently has a network of six house cricket farms in Finland. Its farm in Tammela, Southern Finland, is the largest of its kind in the Nordics.
Karjalainen discussed the objectives of the company with us in greater depth in mid-2015.