This article was originally published on AGFunder News

AgriProtein, a South African startup growing insects for animal feed using waste, has raised $17.5 million in growth stage funding from strategic investors in Europe, North America, and Asia.

In a process AgriProtein calls “nutrient recycling”, the company feeds fly larvae on waste coming from municipalities, a local shopping mall, educational institutions, hospitals and food processors. It creates three products, a soil enhancer for crop producers called MagSoil, and two feed products MagOil and MagMeal.

After extracting the recyclables, like plastic, AgriProtein crushes the waste which turns anything organic into a paste. That paste feeds the larvae. Then the company harvests and separates the mature larvae from the MagSoil and processes it into MagOil and MagMeal.

Using its army of 8.5 billion flies, it can now recycle 250 tonnes of waste per day, boosting larvae production to 50 tonnes per day, according to its recent press release…”

Read on at: AGFunder News.