Loopworm: 10 Key Things You Must Know
Overview
Founded in 2019, Loopworm is an agribiotechnology startup based in Bengaluru, India. It focuses on using insects, specifically silkworms and black soldier flies, to produce sustainable proteins and fats for various industries, particularly animal nutrition. Loopworm is noteworthy for its potential to revolutionize the animal feed and pet food industries with its innovative use of insects to transform food waste into high-quality protein sources. Through its novel approach, the company aims to make significant contributions to tackling environmental issues while offering economic solutions to feed industries. Here, we delve into ten fascinating facets of Loopworm.
1. Founders and Origins
Loopworm was co-founded by Ankit Alok Bagaria and Abhi Gawri, both alumni of the Indian Institute of Technology Roorkee. The startup emerged from their ambition to address the massive potential in turning food waste into valuable resources using insects. This initiative was sparked by a 2014 UN report highlighting insects as a potential future for food security.
2. Sustainable Protein Production
The company's central operation involves converting food waste into protein-rich feed using silkworms and black soldier flies. By doing so, Loopworm supports sustainable farming practices that require significantly less land, water, and energy compared to traditional animal feed production methods.
3. Products and Applications
Loopworm's primary products include LoopMeal, LoopOil, and LoopGrub. LoopMeal is a defatted insect protein concentrate with high crude protein content, rich in bioactive peptides. LoopOil is derived from the lipid content of these insects and is rich in omega fatty acids, while LoopGrub consists of whole dried insect pupae.
4. Circular Economy Model
Emphasizing the circular economy, Loopworm focuses on reducing food waste by converting it into valuable products. The company collects organic waste from various food processing industries, which serves as feed for the insects, thereby turning a waste problem into an efficient resource cycle.
5. Environmental Impact
By utilizing insects as a protein source, Loopworm significantly diminishes the environmental impact associated with conventional protein production. Their methods reduce reliance on fishing and arable land usage, thereby conserving essential ecological resources and reducing greenhouse gas emissions.
6. Global Market Expansion
With a focus on expansion, Loopworm is now exploring international markets, particularly in Europe, Southeast Asia, and South America. The company's ability to supply consistent, high-quality protein ingredients positions it as a promising player in the global feed industry.
7. Economic Viability
Loopworm offers a competitive advantage by producing protein at lower costs compared to traditional sources. The use of silkworms, a byproduct of the silk industry, and black soldier fly larvae, facilitates cost-effective scalability due to their rapid reproduction and growth cycles.
8. Technological Innovation
Working at the intersection of biotechnology and agriculture, Loopworm employs innovative techniques in insect farming and biomanufacturing. Their process optimizes insect-derived protein production, making it feasible to apply these proteins in various industries, including cosmetics and pharmaceuticals.
9. Industry Recognition and Funding
Loopworm has received significant recognition and backing, including a $3.4 million seed investment from prominent investors such as Omnivore and WaterBridge Ventures, along with a $3.25 million pre-Series A round to commercialize its recombinant protein production technology.
10. Future Prospects
The future of Loopworm involves expanding its product offerings and operational footprint. By strengthening its presence in global markets and developing more applications for insect proteins, Loopworm aims to lead in sustainable biomanufacturing, thereby setting new standards in animal nutrition and beyond.
Conclusion
Loopworm represents a paradigm shift in sustainable protein production. By harnessing the potential of insects, the company significantly contributes to addressing global challenges in food security and environmental sustainability. As Loopworm continues innovating and expanding, it holds promise as a key player in redefining the future of protein production, encouraging a sustainable approach that optimizes resources and minimizes waste.