The Yield Lab Asia Pacific has invested in insect startup Protenga with the first close of the company’s current funding round. SEEDS Capital and JBI Innovations also joined the first close.
“The Yield Lab has a fantastic Asia Pacific and Global reputation and presence, and the expertise to back it. We are strongly aligned with their mission to sustainably revolutionize agrifood systems thanks to our scalable renewal nutrition production platform,” said Protenga founder and CEO, Leo Wein.
Protenga’s technology production platform is developing fast, with current insect farming facilities having reached several key productivity and cost milestones this year. Based on these operating validations achieved in 2022, Protenga’s second-generation Smart Insect Farm blueprint will see its first deployments together with strategic partners in 2023. The company is positioned to be a key partner of the palm industry in Malaysia, Indonesia and beyond by up-cycling palm by-products and thus increasing the sustainability of their operations.
The expansion of the product line reached a new milestone with the launch of Protenga’s wet pet food product portfolio and being among the top 3 awardees at the Interzoo 2022 Fresh Ideas competition.
“Protenga’s vertical integration, unique technology and production platform, as well as its circular solution which utilizes palm waste to supplement the insect protein’s highly nutritious food source, provide a sustainable solution relevant to this Asia Pacific region, with the finished product benefiting the global pet food and aquaculture industries,” said Claire Pribula, managing director of The Yield Lab Asia Pacific.
“In addition, Protenga’s innovation being developed for aquaculture feed is unique and important across many fish and seafood species. All combined The Yield Lab Asia Pacific looks at Protenga’s insect protein platform as a flexible, sustainable and highly nutritious base for pets and hundreds of fish species. Both pet and aquaculture are fast-growing markets. The Yield Lab Asia Pacific looks forward to working with Leo and his team as they exceed their next wave of commercial growth and market expansion.”