Rare Earth Global, a UK-based startup focused on expanding access to industrial hemp products for feed, construction, and energy, has raised £1 million ($1.3 million) in a pre-seed funding round to scale its platform, according to AgFunderNews. The funding round was spearheaded by a UK Single Family Office, with contributions from an Asian Impact Fund and strategic angel investors.

Founded in 2019 by Jamie Lewis (CEO), Suneet Shivaprasad (COO/CTO), and Stephen Wong (CFO), Rare Earth Global originated from a consultancy project exploring revenue opportunities in industrial hemp cultivation in the Caribbean.

The company is positioning hemp as a sustainable alternative to soy in aquaculture. With backing from the UK government and Mowi, Rare Earth Global conducted two years of research showing that hemp seeds can match or surpass soy in salmon feed performance while significantly reducing the carbon footprint. The aquaculture sector serves as its initial market for hemp seeds, ensuring demand and driving a transition to more sustainable feed sources.

“Our B2B marketplace is designed to streamline the adoption of hemp across Europe, Asia, and the Americas, fostering sustainable supply chains that align with global climate goals. With hemp’s potential to revolutionize industries such as construction, bioenergy, and aquaculture, we are unlocking opportunities for businesses to make environmentally responsible choices,” the company said.