Malaysia-based B2B e-commerce platform Dropee has closed $1.3 million in its seed round extension while Singapore-headquartered Protenga has secured $1.6 million from Roslin Technologies and SEEDS Capital.
Protenga closes $1.6m in seed funding round
Singapore-based insect farming startup Protenga has closed $1.6 million in a seed funding round from UK agritech company Roslin Technologies and SEEDS Capital, the investment arm of Enterprise Singapore, the company said in a statement.
Protenga, which also operates in Malaysia, is now ramping up production of its insect-based products.
It is looking to take its decentralised smart insect farm model, which transforms agricultural and food waste into valuable products, to waste owners around Asia.
The investment would open up an opportunity in circular food system innovations that will provide healthy and sustainable insect protein for the growing aquaculture and pet food markets.
The firm is also currently hiring for biology, engineering, operations and R&D roles.
Dropee closes $1.3m in extended seed funding
Malaysia-based B2B e-commerce platform Dropee has closed $1.3 million in an extended seed funding round from a combination of new and existing investors, according to Digital News Asia.
The investors include Ondine Capital, US-based accelerator Y Combinator, Vynn Capital, Brama One Ventures, John Devor (COO of Touchpoint Games), Jason Tsai (GooglePay), and several angel investors.
The firm secured $350,000 in seed funding in January last year.
The proceeds will be allocated to support the firm’s wholesale businesses and shifting its trading and procurement operations online. The firm also aims to expand into Singapore by the end of the year.