FreezeM, a Nahshonim, Israel-based agri-tech biotechnology company, raised $14.2M in Series A funding.
The round was led by a group of industrial investors and European Innovation Council Fund, along with existing investors and partners.
The company intends to use the funds to accelerate the growth of its breeding hubs network and commercialize its novel solutions at scale.
Founded in 2018 as a spin-off from the Weizmann Institute of Science by Yoav Politi, Idan Alyagor and Yuval Gilad, FreezeM aims to simplify black soldier fly (BSF) reproduction and increase protein yield through the supply of its PauseM® product to BSF protein producers.
PauseM® is a ready-to-use product, containing life-cycle ‘paused’ BSF neonates with an extended shelf-life of 14 days and consistent high survival rates of over 90%. It is shipped to facilities worldwide, stored on site and flexibly used according to production needs.
Commenting on the news, Dr. Yuval Gilad said: “The current funding round will enable FreezeM to embed our technology globally at scale and accelerate the growth of our breeding hubs in Europe and Israel, thereby driving successful commercial expansion. Our technology unleashes the insect market from its shackles and will propel the insect protein market to fulfill its true potential.”
FinSMEs
15/02/2024