EntoCube raises €360k to further develop insect farming solutions and insect food products.

EntoCube, an Espoo, Finland-based company providing insects farming solutions, announced securing €360k ($445k) in investment funding.

The backers are local Finnish investors, including chef Henri Alén and HYY Group, and the money will be used to ramp up the production of edible insects, to introduce new insect-based products and to expand business internationally.

EntoCube, founded in 2014 by CEO Perttu Karjalainen, developed a solution for a high quality protein by using technology to farm insects for insect producers. According to the company there are over two billion people eating insects all over the world.

EntoCube employs 10 people in Espoo and Tampere and has a network of six house cricket farms in Finland. In 2017 it accounted for €140k ($173k) in turnover.

The company has raised an undisclosed amount at founding in 2014 from a number of local angel investors.