Silicon Valley makes some of the weirdest meals principles – lab-grown hamburgers, one thing termed Soylent, and protein powder designed out of crickets. That last one arrives from Exo, a startup providing protein bars designed out of crickets.
Gross? Nicely, that gross concept just pulled in a $4 million Sequence A round from AccellFoods, existing investor Collaborative Fund and a bunch of angels together with Nas and Tim Ferriss. The staff driving the creepy crawlies as meals business earlier lifted $1.6 million, adding up to $5.6 million in overall funding as a result far.
It’s the kind of odd approach that is typically celebrated in startup land. Exo has in some way certain a bunch of persons with dollars that eating bugs is good for them. But insect consumption is deemed fairly gross in most Western nations. So how is Exo carrying out this?
“Humans have been eating bugs for thousands of years,” co-founder Greg Sewitz advised me around the mobile phone. But he admits the concept is fairly radical, “When we advised persons we were being commencing a meals business employing bugs they would giggle at the concept,” he explained.
When we advised persons we were being commencing a meals business employing bugs they would giggle at the concept.
I wasn’t laughing so substantially as gagging when he asked me to take in one of the bars stuffed with bugs, but he countered with an example of meals we now adore that persons assumed was gross hundreds of years in the past.
“Lobsters were being regarded as a disgusting vermin of the sea,” Sewitz explained. Nicely, kind of. They were being so abundant they were being seen as the “poor man’s protein.” Early settlers and Native Americans ate lobster back again in the 1700’s.
Lobsters share one thing else in common with crickets – they are both arthropods. This family of animal arrives with an exoskeleton and features bugs, arachnids, and crustaceans like our lobster close friends. We like lobster so substantially these days we’ve extra these bugs of the sea to the best greenback things on the menu in fancy eating places.
But back again to the bugs, it’s genuine human beings had been eating them for thousands of years – and several places of the planet are continue to into producing a meal of our several-legged close friends. In accordance to the UN’s Foodstuff and Agriculture Firm (FAO), beetles are the most generally eaten insect.
Crickets are someplace down the chain and comprise about 13 p.c of all consumed bugs. But Sewitz is adamant they are a healthful protein substitute (13 grams for each serving), calling them the “gateway bug” and evaluating the style to a roasted nut.
There’s so substantially education we have to do continue to close to the gains of eating crickets.
And they could just be the up coming trendy meals trend, far too. Paleo-helpful websites have commenced to rave about the gains of cricket protein. Other meals providers have also popped up to tout the gains, together with gluten-no cost cookie and flour maker Bitty Foods and 6 Foods, a meals company specializing in cricket powder.
One more strategy out of Haxcelr8tr in downtown San Francisco released a desktop meal worm farm in the last batch. Livin Farms, the startup driving the concept, marketed the product on Kickstarter for $450 to help you develop at-residence crispy critter snacks.
Exo’s protein bars have been on the market place for a couple of years now. The startup released out of the co-founder’s kitchen area and onto it’s individual thriving Kickstarter marketing campaign, pulling in $twenty,000 in the initially a few days. The solution is now in Wholefoods, Equinox fitness centers, and Wegman’s grocery stores.
Sewitz and his co-founder Gabi Lewis are continue to “testing the waters” to see how buyers respond to bug protein in their meals, but the new funds will help them expand the small business and develop new products employing the cricket powder.
But the crickets could be problematic if they simply cannot get the price down. One more impediment, aside from the psychological one of obtaining your head close to eating thousands of crickets, is the price of grinding people crickets up.
Crickets can multiply substantially more rapidly than beef, but it’s continue to one of the much more expensive proteins to get and, according to Sewitz, one of the major troubles dealing with the cricket protein marketplace.
In accordance to Sewitz, each pound of cricket powder consists of about 3,000 to 4,000 crickets, with a price close to $30 for each pound retail. Exo outsources the crickets to third bash operators who grind them up and make the powder for the protein bars. On the other hand, Sewitz thinks he could be ready to lessen that price at scale.
Jogging out of solution has been a further difficulty chomping into income. Sewitz suggests it’s been really hard to keep solution stocked. The new funding will very likely help out right here as Exo proceeds to expand.
In the meantime, Sewitz and his staff are concentrated on educating other people about the gains of crickets in their food plan. “We want to go to eating bugs further than the worry factor,” he advised me. “There’s so substantially education we have to do continue to close to the gains of eating crickets.”