September 24, 2023: 12:00 AM EST
Cricket One, a Vietnamese startup producing edible insects, has opened a new cricket processing facility it claims is the largest in Asia. It has also closed a “seven-figure” series A funding round. The new plant is in Binh Phuoc, north of Saigon, and will be able to process 1,000 metric tons a year initially, rising to ten times that volume within a few years. It will supply human, petfood and animal feed markets, offering supplements, protein powders, textured cricket meat and cricket snacks. Nearly half the crickets are farmed nearby in cricket sheds, operated under the company’s guidance by local farmers. Cricket One also farms some of its own crickets. The production line for 1,000 tonnes of crickets a year requires only five workers. Insect consumption is becoming popular in Asia, but Asia lags Europe in terms of product innovation, even though Europe has higher cultural barriers to insect consumption. Cricket One’s first consumer launch, earlier this year, was seasoned whole crickets under the Rec Rec brand on e-commerce platforms and also cross-sold by beer brands. It will launch a cricket chip – including ready-to-cook and ready-to-eat formats –in October.
Elaine Watson, "Edible insect startup Cricket One closes series A, opens Asia’s largest cricket processing facility", AgFunderNews, September 24, 2023, © AgFunderNews
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