South Africa: E Squared backs insect protein company

E Squared Investments participated in a follow-on funding round with Nambu Group, a South African insect protein company converting food waste into feed for the poultry, pork, fish farming and exotic pet markets.

The insect protein market is forecast to reach $4.6 billion by 2027 due to increased awareness of sustainable food sources and reducing greenhouse gas emissions.

The investment will be used to upgrade and expand Nambu’s black soldier fly production facilities and improve product sales.

The black soldier fly farming method is intensive, efficient, and environmentally friendly, as it uses a nearly inexhaustible supply of food and organic waste created by humans as feed for the larvae.

Nambu also offers waste management as a service and is looking to expand to provide a sustainable alternative recycling solution for businesses generating significant food waste.