# Toggam Enterprises

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/toggam-enterprises

- Industry: Chemicals
- Headquarters: Ireland
- Website: www.hexafly.com
- Total disclosed funding: $7.2M
- Latest round: Seed (Sep 15, 2022)
- Investors on record: 7

## About

Toggam Enterprises Ltd focuses on the bioconversion of food waste into sustainable products, enhancing food security and promoting environmental sustainability through innovative solutions.Founded in 2016 in Ireland, Toggam Enterprises Ltd converts food waste into high-quality products. The company is led by CEO Alvan Hunt, who has a background in entrepreneurship. It has completed 7 funding deals, with the most recent being a Seed round in September 2022, raising EUR 1.06 million from investors including SOSV and Enterprise Ireland. The company currently holds a valuation of EUR 11.469 million.Toggam Enterprises Ltd specializes in transforming food waste into sustainable products for various sectors. Their offerings include HEXAMEAL™, a hypoallergenic meal for aquaculture and pet food; HEXAOIL™, an insect oil for animal feed; HEXAFRASS™, an organic soil improver; and HEXAGRUBS™, insect protein for pets. Their products cater to aquaculture farms, pet food manufacturers, and agricultural businesses in markets across Europe, North America, and parts of Asia.The company generates revenue through a direct-to-consumer model and B2B partnerships, targeting industries that require sustainable protein and organic fertilizers. Key products are sold through established retail channels and partnerships, with pricing aligned to market standards for premium sustainable ingredients, reflecting their eco-friendly nature.Following their Seed funding round of EUR 1.06 million in September 2022, Toggam Enterprises Ltd plans to expand its product line, particularly focusing on new offerings designed to enhance sustainability in the food sector. They aim to penetrate additional markets in Asia and Europe by 2024. The recent funding will support these initiatives, facilitating research and development for new product launches.

## Funding rounds

- Seed, Sep 15, 2022, $1.1M — SOSV, Halo Business Angel Network, The Yield Lab, Cedas Foundation, Enterprise Ireland
- Seed, Feb 27, 2020, $1M — SOSV, Halo Business Angel Network, The Yield Lab, RebelBio, Cedas Foundation
- Seed, Oct 14, 2019, $1.3M — SOSV, Halo Business Angel Network, The Yield Lab, Cedas Foundation, Enterprise Ireland
- Seed, Nov 14, 2018, $1.2M — SOSV, IndieBio, Halo Business Angel Network, The Yield Lab, Cedas Foundation
- Seed, Dec 12, 2017, $1.4M — Enterprise Ireland, SOSV, IndieBio, Halo Business Angel Network, The Yield Lab, Cedas Foundation
- Seed, Mar 10, 2017, $1.2M — Enterprise Ireland, SOSV
- Seed, May 1, 2016, $0.1M — Enterprise Ireland, SOSV

## Investors

- Enterprise Ireland (https://capitalatlas.ai/funds/enterprise-ireland) — Seed
- SOSV (https://capitalatlas.ai/funds/sosv) — Seed
- IndieBio (https://capitalatlas.ai/funds/indiebio) — Seed
- Halo Business Angel Network — Seed
- The Yield Lab (https://capitalatlas.ai/funds/the-yield-lab) — Seed
- Cedas Foundation — Seed
- RebelBio — Seed