Loopworm Secures Funding for Sustainable Protein Production

Loopworm, a biomanufacturing company specialising in insect-derived proteins, has successfully garnered $3.25 million in a pre-Series A funding round. This funding round was co-led by WaterBridge Ventures, an ongoing investor, alongside ENRISSION INDIA CAPITAL, a venture capital firm from Japan.

Based in Bengaluru, the company had already raised $3.4 million in an earlier seed funding round that was led by Omnivore and other investors.

The funds will be directed towards advancing its recombinant protein production platform that targets diagnostics, animal vaccines, and various other applications with fewer regulatory hurdles, as stated by Loopworm in a recent press release.

Sustainable Protein Production by Loopworm

Co-founded in 2019 by Ankit Alok Bagaria and Abhi Gawri, Loopworm is dedicated to sustainably producing protein through the farming of insects. The company has successfully brought insect-derived proteins and fats to market for aquaculture and pet nutrition and is in the process of developing an innovative reactor-free recombinant protein production platform that utilises silkworms.

Innovative Approach to Recombinant Proteins

Loopworm has established a new method for the production of recombinant proteins—these are typically generated by inserting genes into host organisms like yeast or bacteria to yield proteins valuable for medical or industrial purposes. Their proprietary method circumvents this traditional process, leveraging silkworms as living factories to produce intricate proteins. This enables quicker, more economical, and eco-friendly production.

Operational Excellence in Protein Production

The company currently runs a cutting-edge insect processing facility in Bengaluru, which has a capacity of 6,000 tonnes per year. They export protein and oil derived from silkworms and other farmed insects to Europe, South America, and ASEAN nations for use in aquaculture and the pet food sector.