Headlines in the edible insect space are often similar throughout the year. New companies launching edible insect products, articles pronouncing edible insect are food trend of the year (2016, 2017, 2018…I guess they just keep doing that?), or videos of people trying crickets or mealworms for the first time. All of these we love to help spread the word for those that may be hearing about this option for a sustainable food source for the first time.
While it is said that “All News is Good News,” not everyone is a fan of eating cricket powder or trying edible insect. We SOO understand that but love getting the chance to talk about it all the time. The good and the bad help to spread the word about the potential, the availability, and the practicality of using edible insects such as crickets as a food source.
But while these articles and videos do a great job about spreading the word, fundraising rounds and acquired companies in this space are few and far between and this latest one is exciting news for the industry. While the details are still forthcoming, it was recently announced that the cricket protein bar company EXO just was acquired by the Aspire Food Group for an undisclosed amount. After being founded in 2014 and raising over $5.2M in funding, this acquisition is exciting for the edible insect space. For a company just 4-years old with a strong history of subscribers to their protein bar lineup and list of investors such as Marc Bell Ventures, Nasir “Nas” Jones, Dentsu Ventures, Accel Foods, and Tim Ferriss this great news for an early exit for them and exciting for the industry as a whole.
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