Lithuanian food tech company Divaks has secured €3 million in a seed funding round, as it looks to develop its insect-derived ingredients for food applications.
Divaks is creating a range of sustainable, traceable ingredients from the yellow mealworm (Tenebrio monitor). The insect is said to provide a complete protein source, containing all essential amino acids, vitamins and minerals, and can be used in applications across meat alternatives, sports nutrition, snacks and confectionery.
According to the company, insect farming offers environmental benefits over livestock farming, including generating fewer greenhouse gas emissions and requiring less water and land.
Kęstutis Lipnickas, Divaks’ co-founder and CEO, commented: “Yellow mealworm is an exceptional protein source, combining the nutritional quality of beef with the sustainability credentials of many plant-based alternatives”.
Lipnickas continued: “Our focus from day one has been on using these insects to create added-value ingredients, solutions and specialities for the food industry. With our unique, vertically integrated technology, we can provide high-quality insect protein products that are tailored to the demands of both clients and consumers.”
The company plans to use the investment to support the launch of its pilot manufacturing facility, secure Novel Food authorisation with the European Commission, and carry out further research and development in the field.
© FoodBev Media Ltd 2022
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