Withers tech advises insect technology company Entocycle on $5 million Series A investment
31 January 2023 | Applicable law: England and Wales, US | 5 minute read
The Withers tech team has advised insect technology company Entocycle on its $5 million Series A funding round led by Climentum Capital Fund and Lowercarbon Capital.
Entocycle is a scalable insect farm providing nutritious and sustainable food and feed for animals. The group uses computer vision, automation and machine learning to monitor insects and help them to develop and reproduce.
London partner Sarah Melaney, comments: "Traditional animal feed – normally fishmeal and soy – heavily contributes to deforestation, biodiversity loss and greenhouse gas emissions. Using technology and innovation methods, Entocycle has built a system of black soldier flies farming. The insects are fed on food waste such as old coffee grounds and brewery waste. As such, the company has created a circular system that transforms food that was otherwise headed to the bin into protein-rich feed for animals. We are thrilled to have supported Entocycle on their Series A investment and look forward to seeing how they continue to alter the animal feed industry."
Matt Simmonds, Managing Director at Entocycle, comments: "Sarah and the Withers team were incredibly helpful and supportive partners of ours as we successfully closed our Series A – knowledgeable, well-connected and a great bunch to be alongside during the often eventful journey."
Withers tech is the technology, life sciences and venture capital focused team at international law firm Withers. The Withers tech team was led by Sarah, working alongside US partner Andrew Gay and associate Frank Tang.