FreezeM Raises $14.2M in Series A to Accelerate Market Expansion in the Insect Protein Industry
NAHSHONIM, Israel, Feb. 15, 2024 /PRNewswire/ -- FreezeM, an Agri-tech pioneering biotechnology company that offers Breeding-as-a-Service (BaaS) for Black Soldier Fly (BSF) protein factories, announced today the closure of $14.2 million in Series A funding. The funding round was led by a group of seasoned industrial investors and the prestigious European Innovation Council Fund (EIC Fund), along with FreezeM's existing investors and partners. The funding will be used to accelerate the growth of the company's breeding hubs network and commercialize its novel solutions at scale, accommodating the rapidly increasing market demand.
- Traditionally BSF breeding is a major bottleneck in industrial scale insect protein production, requiring unique bio-expertise to tackle inherent colony instabilities and technological gaps.
- By eliminating these industry constraints, PauseM® not only promotes sector growth but also facilitates scaling of the global insect protein industry.
- FreezeM takes the breeding hurdle out of the equation, streamlining insect protein production and making it more efficient and accessible from new entrants to veteran market players.
- Our technology unleashes the insect market from its shackles and will propel the insect protein market to fulfill its true potential," said Dr. Yuval Gilad, Co-founder and CEO of FreezeM.