South Africa: Sand River Venture Capital backs insect-based animal feed company
Maltento, the insect-based feed company, has secured a capital injection of $3.3 million from Sand River Venture Capital.
The Cape Town-based company specialises in harnessing the functional compounds of insects to create nutritionally rich animal feed.
Currently, Maltento’s Epping factory is capable of shipping over 15 tonnes of processed soldier fly larvae – a high-protein chicken feed supplement – to the US each month.
Dominic Malan, the commercial director of Maltento, elaborated on how the fresh funds will be utilised. ”This investment and team will support our ambitions to become a global functional ingredient player, and the capital will be deployed into extending our production line and building a world-class management team. We will focus on optimising our pet and aquaculture digest formulations which we have successfully commercialised to the sum of 120MT in less than 12 months.”