Venture Capital: LIVIN Farms, A Provider Of Bugs On Subscription, Raises €6M Series A
LIVIN Farms sells ‘plug-and-play’ bug factories that can convert food waste into salable protein.
LIVIN Farms, an industrial technology provider in the alternative protein industry, has developed HIVE PRO, a fully automated process that allows waste management companies and large scale food producers to convert organic waste and by-products into revenue earning proteins, fats, and fertilisers using insect larvae. The company raised a EUR 6 Million Series A round led by venture investor Peter Luersse.
The modular HIVE Pros are remotely monitored using LIVIN farm’s unique ‘Farming as a Service’ (FaaS) model, and automatically replenished with insect seedlings upon completion of a life cycle process.
“With our proprietary technology and biological know-how, our customers turn substantial losses on organic waste into highly attractive, additional income. At the same time, our customers contribute massively to fixing the broken food system and therefore saving the planet”, said Katharina Unger, Founder and CEO of LIVIN farms.
“LIVIN farms is on a mission to revolutionise the up-cycling of organic waste through their modular and automated insect factories and they are poised to become a major player in this fast growing industry,” said Peter Luerssen, Series A lead investor.
The proceeds of the Series A round will enable further growth of the company and will be used for expanding the LIVIN farms team, standardisation of the technical solutions and driving the initial scale-up phase.
Related Story: Better Origin, Maker Of Modular, AI-Powered Insect Farms, Raises $16M
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