# INSEACT Pte.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/inseact-pte

- Industry: Agribusiness
- Headquarters: Singapore, Singapore
- Website: www.inseact.com
- Total disclosed funding: $1.3M
- Latest round: Seed (Aug 23, 2021)
- Investors on record: 3

## About

Based in Singapore and founded by Tim van Vliet (CEO) and Michael Badeski (COO) in 2019, INSEACT Pte. Ltd., operates as an alternative protein company. In August 2021, the firm raised USD 1.3 million in seed funding led by investors ADB Ventures, INSEAD Business Angels Club, and Loyal Venture Fund Group along with the participation of some individual investors.

The company specializes in producing alternative protein from black soldier fly (BSF) insects, for aquaculture and shrimp feed, by using wastes from palm oil operations as a raw material to feed the insects. The BSFs bio-converts the waste streams from palm oil production to produce different products namely XFprotein, a nutrient-rich animal feed ingredient obtained from dried and ground black soldier fly larvae, Insect Protein-Powered Shrimp Feed, non-extruded, pelletized shrimp feed, made from XFprotein, ready to feed pellets. Other products produced by the firm are INSEACT Oil, a clarified insect oil extracted from BSF larvae used as a source of energy for animals when mixed in as a feed supplement, and INSEACT Frass, a by-product of black soldier fly larvae composting, used as an organic fertilizer.

The company intends to utilize it's August 2021, funding to build a black soldier fly pilot production and R&D site in Singapore and to deliver the product to its customers.

## Funding rounds

- Seed, Aug 23, 2021, $1.3M — INSEAD Business Angels Club, ADB Ventures, Loyal Venture Fund Group

## Investors

- INSEAD Business Angels Club — Seed
- ADB Ventures (https://capitalatlas.ai/funds/adb-ventures) — Seed
- Loyal Venture Fund Group (https://capitalatlas.ai/funds/loyal-venture-fund-group) — Seed