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The Spoon

Daily news and analysis about the food tech revolution

Flying SpArk

Israeli Insect Protein Startup Flying Spark Gets Investment from Seafood Company Thai Union

Today Flying Spark, an Israeli startup that makes food products from larval insect protein, announced a partnership with Thai Union Group PCL, one of the world’s largest seafood producers. As part of the deal, Thai Union will also invest in the Israeli company.

Thai Union did not disclose how much it would invest in Flying Spark. However, a press release sent to The Spoon did reveal that this is the first investment by Thai Union from its new $30 million venture fund intended for food tech companies, including those in the alternative protein space.

While dining on larvae might not sound appetizing, at least to most Western consumers, insects are actually an incredibly sustainable source of protein. They require very little food or water, grow quickly, and the whole insect can be eaten — which means no food waste.

Companies like Aspire (which acquired cricket protein bar company Exo), Chirp’s, Orchestra Provisions and others are all trying to get Western consumers to eat insects. Even some celebrities have taken up the cause to advocate for bugs.

Considering Thai Union is one of the world’s largest seafood producers, however, their interest might be more focused on insect protein’s other main use: cheap, sustainable animal feed.

Currently the majority of feed for farmed fish is made from, well, smaller fish. That can be expensive and also means that those fish can’t be sold to consumers. Using insects to cultivate farmed fish could be a cheaper high-protein option.

If that is indeed the route they’re going, Flying Spark won’t be the first to get into the space. Last year French startup Ÿnsect raised €110 million (~$124 million) to build a giant farm to grow larvae for fish feed. However, with demand for fish predicted to increase by more than 50 percent over the next 15 years, there’ll be plenty of room for multiple players to swim onto the scene.

IKEA’s Startup Bootcamp Gives Us a Glimpse Into Some Hot Future-of-Food Trends

Swedish furniture-maker IKEA is right in the middle of its very first “IKEA bootcamp” startup accelerator, a three-month program the company is running with global cooperative Rainmaking. The three-month program, announced back in May, has been underway since September.

Ten startups were picked from a pool of several hundred applicants. The chosen few arrived in Älmhult, Sweden in September to work closely with IKEA and Rainmaking within the accelerator codeveloped by the two companies. The program runs until December, when the startups will show off their progress with a demo day.

It’s significant that two of the 10 companies chosen are specifically about food tech, and that a third product touches the food sector. IKEA has always been about improving the everyday, whether that’s affordable routes to smarter lighting, energy efficient home appliances, or a range of smart-kitchen devices.

IKEA’s food business is almost as famous as the brand itself. The infamous horsemeat scare in 2013 led the company to change parts of its food business. It axed Pepsi and Coca-Cola products, replacing them with Swedish fruit waters, and, in 2015, introduced a veggie version of its much-loved meatball dish.

And thanks to these startups currently hard at work, new food developments are probably not far away—starting with bugs.

One of the startups, Israel’s Flying SpArk, produces protein ingredients from fruit flies. The ingredient, which comes in powder and oil form, is rich in minerals and proteins, and fruit flies require minimal water and almost no land to farm.

“I don’t know if the future is a crispy bug ball, but I know we are going to work with lots of different partners to bring changes to our food business,” Food Services Managing Director Michael la Cour said at the recent Sustainability Summit.

Insects, of course, are getting a lot of attention of late. Michelin Star restaurant Saison now offers crickets on the menu. Meanwhile, Tesco’s outgoing executive chairman, John Chambers, got a lot of attention after his talk at last week’s Techonomy conference. He believes consumers around the globe will transition to a more orthopteran diet “definitely within 20 years and maybe within 15.”

But it’s not all creepy crawlies over at the IKEA bootcamp. Another startup is Niwa, who makes a connected hydroponic system that completely automates gardening. The technology is compact enough to fit inside a small apartment and can be controlled with a smartphone. The company is currently accepting pre-orders for the product.

Niwa, however, isn’t just another smart-home gadget for consumers. Ambitious growers can opt to build their own system. And Niwa Pro, which is considerably more complex, is aimed at those growing on a larger scale.

The other Bootcamp company deserving a mention is Germany-based Goodbag, whose product aims to eliminate plastic shopping bags. Buy a cute, tote-like bag from the company’s online store, and scan it at the checkout. For every scan you make, a new tree is planted. Bag owners also get access to discounts at participating stores. The bags work in any shopping scenario of course, but grocery stores tend to be monstrous consumers of plastic shopping bags, especially in the U.S.

Getting backing from a mega-company like IKEA shows that these concepts are, if nothing else, growing increasingly important to the conversation around food and technology. If we’re all soon bringing bug powder home in our connected totes and cooking it up with smart veggies, we’ll know IKEA chose its startups well for this inaugural event.