Ento successfully closed seed funding for production and regional market expansion
20 Sep 2019 – ento is pleased to announce that we successfully closed our seed funding round led by Singaporean based Venture Capital firm, Rapzo Capital.
As the world is shifting away from traditional livestock protein sources and moving towards healthier and more sustainable protein sources, we expect the demand for insect-based protein to rise globally. We firmly believe we are poised capture the growth and drive profitability from our unique business model and reduced cost structure through tech innovations.
With the funds raised, we have identified key growth areas namely:
- Expanding production capacity
- Developing technology and automation within production process
- Creating new product lines
- Accessing new markets.
Ento’s goal is to build one of the world’s largest and smartest insect production facility including implementing key data sensors, cloud data framework and automation. This will mean reducing cost structure, improving production efficiency, and setting up a scalable technology platform for the company to grow in the near future.
Over the next 12 months, we aim to have a strong presence both online and offline. Ento has set its sights on target markets within South East Asia namely: Singapore, Thailand and Indonesia. We firmly believe that these new markets offer exciting new growth avenues for the company to drive revenue and profitability.
With our vision and expansion plans in mind, we are firmly in execution mode and are excited to announce next steps towards late 2020.