Israeli agritech firm lands $14.2M in Series A funding round
FreezeM aims to accelerate its market expansion in the insect protein industry.
The $14.2 million (€13.13M) Series A round saw participation from the European Innovation Council (EIC) Fund, 2 groups of private investors, as well as existing backers Shachar Group and Nachshonim Agricultural Cooperative.
FreezeM’s CEO Yuval Gilad tells GlobalPETS that after the capital injection, the company plans to “bolster production capacity” in both its hubs to increase the commercialization of PauseM, a ready-to-use product aimed at black soldier fly (BSF) protein producers containing life-cycle ‘paused’ BSF neonates.
“We aim to forge strategic partnerships with influential stakeholders in the insect farming sector. Moreover, we remain committed to advancing our innovative research and development (R&D) pipeline, with exciting developments on the horizon,” adds Gilad.
Founded in 2018 and headquartered in Tel Aviv, FreezeM aims to streamline insect farming and insect protein production by using breeding solutions from the emerging BSF farming industry. It currently operates two breeding hubs in Israel and Germany.
The company last raised €6.3 million ($6.81M) from the EIC Fund in December 2022.
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