Israeli grasshopper farming co Hargol raises $3m

Grasshopper Photo: Shutterstock

Hargol FoodTech has developed an innovative farm system for high-quality and sustainable grasshopper protein production.

Israeli commercial grasshopper farming company Hargol FoodTech announced today that it has completed a $3 million financing round from existing shareholders, Singaporean-based Sirius Venture Capital and Netherlands-based SLJ Investment Partners. Based in northern Israel, Hargol FoodTech is a portfolio company of The Trendlines Group (SGX: 42T; OTCQX: TRNLY).

Hargol FoodTech has developed an innovative farm system for high-quality and sustainable grasshopper protein production. The company took up the challenge of providing a superior protein alternative based on its proven technology and optimized methods of growing grasshoppers quickly and under sanitary conditions. The company proved that its grasshoppers contain more than 70% protein, all essential amino acids, and high levels of omega-3 and omega-6.

The company was founded by CEO Dror Tamir, CTO Chanan Aviv and COO Ben Friedman.

Tamir said, "With incredible interest from the market in our new line of theological food products - Biblical Protein, we are excited by the opportunity to offer a combination of modern, healthy and sustainable innovative food products that are connected to humanity’s origin."

The funds raised in this round will be used to expand Hargol’s production capacity including a new production facility and launch the Biblical Protein products line.

Published by Globes, Israel business news - www.globes-online.com - on April 16, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Grasshopper Photo: Shutterstock
Grasshopper Photo: Shutterstock
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