Loopworm Company Profile

Background

Loopworm, established in 2019 and headquartered in Bangalore, India, is a biosciences and biomanufacturing company specializing in transforming farmed insects into sustainable, value-added products. The company's mission is to redefine nutrition, health, and wellness by maximizing the potential of insects across various applications. Loopworm focuses on producing high-quality, nutrient-dense feed ingredients derived from insects, offering sustainable alternatives to traditional animal feed components.

Key Strategic Focus

Loopworm's strategic objectives include:

Animal Nutrition: Developing insect-based feed products rich in essential amino acids and fatty acids to enhance the health and growth of aquaculture species, poultry, and pets.

Recombinant Proteins: Utilizing silkworms as biofactories to produce recombinant proteins, aiming to reduce production costs and improve accessibility to vital proteins for various applications.

Sustainability: Emphasizing environmentally friendly production methods that require significantly less water, land, and energy compared to traditional processes, thereby reducing the environmental footprint.

Financials and Funding

In 2022, Loopworm secured an investment of US$3.4 million from investors including Omnivore, Waterbridge, Titan Capital, and Climate9ers. Additionally, the company has received grants from the Indian government and support from foundations such as Tata Trust and the Gates Foundation through paid pilot opportunities.

Pipeline Development

Loopworm's key products and developments include:

Silkworm Pupae Meal Concentrate: A protein-rich feed ingredient with a minimum of 65% protein content, enriched with essential amino acids and trace minerals.

Omega 3,6,9 Aroma Oil: Derived from silkworm pupae, containing vital fatty acids and Vitamin E, suitable for enhancing the nutritional profile of animal feeds.

Whole Dried Silkworms: Used as supplements for small pets, birds, reptiles, and fish, providing a natural and nutrient-dense food source.

Protein Hydrolysates: Developed from multiple insect species as pet food supplements to improve meal palatability and provide easily digestible proteins.

Biostimulants for Crops: Natural plant growth enhancers derived from insect biomass, promoting better yield and resilience in crops.

Recombinant Proteins: Utilizing silkworms to produce complex proteins, including growth factors, vaccines, biologics, and therapeutic proteins, aiming to reduce production costs and improve accessibility.

Technological Platform and Innovation

Loopworm's technological innovations include:

Insect-Based Protein Production: Utilizing silkworms and black soldier flies to produce high-quality proteins and fats for animal nutrition, offering sustainable alternatives to traditional feed ingredients.

Recombinant Protein Production: Developing silkworm biofactories to synthesize complex proteins, significantly reducing production costs and making these vital proteins more accessible.

Biostimulants: Creating natural plant growth enhancers from insect biomass to improve crop yields and resilience.

Leadership Team

Ankit Alok Bagaria: Co-founder and CEO, leading the company's strategic direction and growth initiatives.

Abhi Gawri: Co-founder, overseeing product development and operational strategies.

Competitor Profile

Market Insights and Dynamics

The global insect protein market is experiencing significant growth, driven by increasing demand for sustainable and alternative protein sources in animal feed and pet food industries. Insect-based proteins offer environmental benefits, including lower greenhouse gas emissions and reduced resource consumption compared to traditional protein sources.

Competitor Analysis

Key competitors in the insect protein industry include:

Protix: A Netherlands-based company specializing in producing insect-based ingredients for animal feed and pet food, focusing on black soldier fly larvae.

Ynsect: A French company producing insect proteins and fertilizers, primarily using mealworms, targeting aquaculture and pet food markets.

Entomo Farms: A Canadian company supplying insect-based ingredients for human and pet consumption, utilizing crickets and mealworms.

Strategic Collaborations and Partnerships

Loopworm has engaged in collaborations with various organizations to advance its research and product development:

Indian Council of Agricultural Research (ICAR) – Indian Institute of Pulses Research (IIPR): Conducting trials to test the efficiency of biostimulant products on crops like mungbean, urdbean, and chickpeas.

Government Grants and Foundations: Receiving support from the Indian government, Tata Trust, and the Gates Foundation through grants and paid pilot opportunities to further research and development efforts.

Operational Insights

Loopworm operates a GMP+, ISO 22000, and HACCP-certified facility with an annual production capacity of 6,000 metric tonnes. These certifications ensure adherence to stringent food safety and quality standards, positioning the company as a credible supplier in the global market.

Strategic Opportunities and Future Directions

Loopworm aims to expand its market presence by:

European Market Entry: Leveraging the EU TRACES certification to supply sustainable ingredients to the European pet and animal nutrition markets.

Product Diversification: Developing new insect-derived products, including palatants, flavor enhancers, and functional products, to meet diverse industry needs.

Recombinant Protein Platform: Advancing the development of a recombinant protein platform to produce high-value animal therapeutics, biologicals, and diagnostics at reduced costs.