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$2.0m

Convertible
Total Funding000k

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USD20222023
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% growth-13 %
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Source: Dealroom estimates

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More about Hargol FoodTech
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Hargol FoodTech, founded in 2014 by Dror Tamir, Chanan Aviv, and Ben Friedman, operates as a pioneer in the commercial-scale farming of grasshoppers for alternative protein. The company is headquartered in Misgav, Israel, and has established itself as a key player in the alternative protein market, which addresses the globally increasing demand for sustainable protein sources. The inspiration for the company stems from co-founder Dror Tamir's childhood on a kibbutz, where he learned about the tradition of eating locusts during swarms in the 1950s. This background, combined with his experience as a serial food and nutrition entrepreneur, led to the realization that grasshoppers could be a solution to the world's growing protein deficit. Co-founder Chanan Aviv brings over three decades of experience in breeding insects and livestock, while Ben Friedman contributes his expertise as a serial entrepreneur.

The company operates on a business-to-business (B2B) model, providing grasshopper-based protein ingredients to food producers, dietary supplement companies, and the pet food industry. Its target clients include food and beverage manufacturers in North America, Europe, and Asia. Revenue is generated through the sale of its protein products, which are positioned as a high-quality, sustainable raw material. Hargol has secured marketing approvals for its products in the USA, Australia, and Europe.

Hargol's core business revolves around its proprietary technology for the industrial cultivation of grasshoppers in climate-controlled, sanitary facilities. A key technological achievement is the reduction of the grasshopper egg incubation period from 40 weeks in nature to just two weeks, enabling more than 10 life cycles per year instead of one. The company employs vertical farming techniques and an innovative cage infrastructure to increase production density significantly. Its product portfolio includes a protein powder ingredient with 72% protein content, all essential amino acids, and a neutral flavor, making it suitable for incorporation into various food products like energy bars, pasta, and baked goods. The company also offers a paste format designed to be blended into meat products. These products are marketed as being healthier than other protein sources, with no saturated fat or cholesterol, and are the only insect protein source that is both kosher and halal.

Since its inception, Hargol has raised a total of $3.7 million over six funding rounds from investors including Sirius Venture Capital, SLJ Investment Partners, The Trendlines Group, and Gener8tor. The company has won over 20 international innovation competitions and received grants from the Israel Innovation Authority. A significant milestone includes a collaboration with Miloubar, a leading Israeli feed producer, to develop a new feed formula expected to reduce feed costs by 97%, making their grasshopper protein one of the most efficient animal protein sources.

Keywords: alternative protein, insect protein, grasshopper farming, food technology, sustainable protein, B2B ingredients, agritech, food security, animal nutrition, protein powder, kosher protein, halal protein, food innovation, sustainable agriculture, entomophagy, circular economy, pet food ingredients, vertical farming, climate-resilient farming, food production

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