Thai Union has announced that its Corporate Venture Capital (CVC) Fund has made an investment in Orgafeed, a producer of insect-based pet treats.
The Thailand based start-up produces sustainable pet food and pet treats based on insect protein under the Laika brand.
The insect protein is sourced form black soldier fly larvae, which are raised on a diet of pre-consumed food waste, in line with Thai Union's circular economy principles.
Prior to the investment, Orgafeed took part in Space-F, a global food-tech startup incubator and accelerator initiative, co-founded by Thai Union in 2019.
According to Thai Union, the investment will support the future growth of its pet care division, now known as i-Tail, and is in line with the business' ambitions to improve the nutritional aspect of its products.
Combining Innovation And Sustainability
“At Thai Union, innovation and sustainability are two important pillars of our business," commented Roy Chan, chief executive of i-Tail, Thai Union. "The pet industry is experiencing strong humanisation and premiumisation trends, which has led to customers looking for healthier and more sustainable products, thus driving our portfolio towards sustainable pet products, such as insect protein, where the environmental impact (emissions, land and water usage) is significantly lower than other kinds of farmed protein."
Chan added that the Orgafeed business will enable the company to serve its customers better in the sustainable pet food segment.
"We’re very pleased to be participating in this round of funding and are looking forward to exploring collaboration opportunities with them.”
Earlier this week, retailer Auchan Portugal announced the launch of a number of insect-based products in its food assortment, in associated with Portugal Bugs.
© 2021 European Supermarket Magazine. Article by Stephen Wynne-Jones. For more A-Brands news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.
