Maple Leaf Foods, the Canadian packaged goods giant, has invested in Entomo Farms, North America’s largest insect farm for human consumption, as part of a Series A funding round.
Founded in 2014 by brothers Jarrod, Darren, and Ryan Goldin, Entomo Farms is providing a nutritious and sustainable alternative to traditional meat protein with its cricket and mealworm powders and whole roasted insects.
The company has grown to 60,000 square feet of production space and supplies its insect protein ingredients to dozens of food companies around the world who are meeting consumer demand for alternative proteins and more diversity in their diets.
“From our first meeting with Maple Leaf Foods, we were impressed with their commitment to environmental sustainability, their expertise with scale farming, and their track record in marketing to consumers,” said Jarrod Goldin, President and Co-Founder.
“These funds will allow us to expand production to meet increasing demand while Maple Leaf’s knowledge will help us continue to meet the needs of large food producers as we grow.”
Michael McCain, President and CEO of Maple Leaf Foods, said: “Our minority venture investment in Entomo is consistent with our vision to be the most sustainable protein company on earth.
“Entomo Farms and Maple Leaf’s products will be separate, but we are excited to help foster their continued leadership in insect protein and aspiration to become the largest insect protein supplier in the world.
“We see a long-term role in this form of sustainable protein delivery, both for animal and human consumption, as it is elsewhere in the world.”