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Singapore startup that turns fly larvae into animal feed gets $20m

Nutrition Technologies looking to expand in growing insect protein market

Founded in 2014, Nutrition Technologies manufactures protein from black soldier fly larvae as a sustainable alternative to fishmeal, a common ingredient in animal feed. (Source photos from Nutrition Technologies' website) 

CEBU, Philippines -- Nutrition Technologies, an agricultural technology company headquartered in Singapore and Malaysia, said it has raised $20 million in a funding round led by Thai state-owned oil and gas company PTT.

Nutrition Technologies said in a statement that the funding round was also backed by Sumitomo Corporation, ING Sustainable Investments and Mandala Capital, along with existing investors Openspace Ventures, Seeds Capital and Hera Capital.

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