Beta Hatch, an American startup with a female backer that produces nutritious protein worms for livestock, has raised $10 million. The total investment in the project exceeds $30 million. The company plans to multiply production and become the largest in the U.S. in its segment.
TechCrunch writes about the Beta Hatch investment. The investors include Lewis & Clark AgriFood, Cavallo Ventures and Innova Memphis, which have previously invested in the project.
Including the funds raised, the company intends to achieve its goal of becoming the largest producer in its segment in the U.S., growing product output 10-fold over the next year.
“We are excited about our growing presence in the rural U.S. as we work and partner with farmers to feed the world’s growing population,” said Beta Hatch founder and CEO Virginia Emery.
The worm farm is located in a Seattle suburb. It uses renewable energy to run it.
The company has raised a total of $30.5 million, according to Crunchbase, not including new investments.
Beta Hatch was founded in 2015. It is headquartered in Seattle.