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Hargol FoodTech

Hargol develops unique technologies for the cultivation of grasshoppers for protein. The company manufactures whole grasshoppers and grasshopper-based protein powder. Hargol has won dozens of international competitions and holds strategic partnerships.

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Minimum investment: $15,000
Type:Equity   
Stage:Round A
Category:Food & Agro
•  Overfunding - Over 100%    
  • Campaign Highlights
  • Pitch
  • Team
  • Financial data
  • The Deal
  • Documents
  • Disclosures
  • Investors 33
  • Updates

Campaign Highlights

Innovative Agri-Tech Technology, Leading the Sustainability Revolution in the Global Food Industry

Hargol has developed a unique, breakthrough agricultural technology for the commercial cultivation of grasshoppers, providing a real and sustainable solution to the global need for new protein sources. The methods and technologies developed by the company enable the cultivation of larger quantities of grasshoppers, with greater efficiency than that of existing animal-based protein sources. They provide nutrition security to a growing global population while maintaining maximum environmental protections.

 

International Recognition - Winning Dozens of International Competitions, Participation in a Prestigious Accelerator and Strategic Cooperation with Leading Food Manufacturers

Hargol FoodTech has won 11 international innovation competitions, participated in the prestigious Accelerator of the agriculture giant Alltech, and received exposure in hundreds of articles in the world media. The company has ongoing pilots with an international and local food manufacturers to develop grasshopper-based protein products. Following its win of the Tnuva Innovation Competition, Hargol is developing a protein powder for athletes, which is slated to be added to the Tnuva family of products. In addition, the company is piloting with Frutarom to develop grasshopper-based meat replacements, as well as with the American company Glanbia and the Japanese company Adeka to create snacks.

Invest Alongside International VCs, the Trendlines Incubator, wework, and the Israel Innovation Authority

Hargol has raised money from investors and VCs in Israel, the Netherlands, the US, and Singapore. The company's first investor is the Trendlines group - the leading incubator in Israel that invests in early stage agricultural ventures. Other significant investors are wework; the Singapore-based Sirius fund, which invests in future foods; and SLJ from the Netherlands, owned by Rene Dahan, former chairman of ExxonMobil. In addition, the IIA has recently approved two research grants for the company.

 

Certificates for Export and Marketing in the United States, Europe, and Australia

Hargol has FDA and USDA approvals to export its grasshoppers to the US and meets the regulatory requirements for export to some European countries (e.g. Finland), from which it can transport the grasshoppers to other EU countries. The company wrote the local regulations for the cultivation of grasshoppers with the Israeli Ministry of Agriculture, has a permit to grow its grasshoppers and will soon be approved by the Ministry of Health to sell them in Israel as food. Hargol was recognized by rabbis as kosher and is expected to receive a certificate of KASHRUT later this year, making it the first kosher insect company in the world.

A huge market

The global insect protein market is growing rapidly, partly due to the rising global demand for protein, the global shift toward health awareness and the transition to eco-friendly agriculture. Grasshoppers are already in huge demand worldwide, having been incorporated into the diet of 2.5 billion people in Asia, Africa, and Central America. Hargol FoodTech is the first and only company in the world to grow grasshoppers commercially.

 

Pitch

The idea

Protein is essential for nourishing the human body and plays an important role in many bodily processes: building cells and tissue, building muscle, producing enzymes, brain development, strengthening the immune system (antibodies), carrying oxygen in our blood, hormonal regulation and more. Poor protein intake can lead to a wide range of diseases, including endocrine problems, immune system damage, fertility problems, loss of muscle, skin elasticity damage, fatigue, hair loss, developmental impairment and, in severe cases, death. The World Health Organization recommends the consumption of 0.8 grams of protein per kilogram of body weight for adults and at least twice that for children and babies.

 

The Need

Protein deficiency is one of the major problems of the developing world. About one billion people in the Third World suffer from protein deficiency, resulting in a variety of diseases and symptoms.

Global demand for protein is expected to double over the next few decades. Many of the existing protein sources are becoming depleted and the animal-based sources cause significant environmental damage. Today there is a race to develop alternative protein sources that will be healthier, more sustainable and be able to feed the rapidly growing human population in the coming decades.

Grasshoppers are a very effective source of protein, but today their supply comes from wild gathering, which is limited in quantities and to a very short season (4-6 weeks a year).

 

The Solution

Hargol FoodTech is the only company in the world that has been able to successfully establish grasshopper farms in which grasshoppers are cultivated yearlong in massive quantities. This groundbreaking achievement changes the face of world nutrition by providing high quality, healthy, available protein on a commercial scale, and with minimal impact on the environment.

Grasshoppers are the most effective protein that nature can produce: They are healthier for humans (70% protein without processing), contain all the essential amino and fatty acids, and have very low percentages of saturated fat and cholesterol.

In addition, grasshoppers are 20 times more efficient to produce than cattle. Their growth requires small amounts of water, food and growing space, and they are 100% exploitable when compared with cows (less than 50%).

 

The Technology

Hargol FoodTech develops technologies and methods for the cultivation of grasshoppers. The Company's major developments include:

  • A controlled environment with ideal conditions for cultivating grasshoppers of high and uniform quality throughout the year.
  • Accelerated incubation of the hatching eggs, whereby the natural 40-week incubation period is reduced to only 2 weeks.
  • Unique cage infrastructure for vertical agriculture (growing to height), which increases production per unit area 10 times, and allows full control of the humidity levels and regular evacuation of discharges for maximum sanitation.

The company's developments make the cultivation of grasshoppers very efficient and can be replicated in large volumes under various climate conditions.

 

The Benefits of Grasshopper Protein over Other Protein Sources

  • Grasshoppers contain more protein than other insects - 15% more than crickets and 40% more than mealworms and flies.
  • No further processing - due to the high protein content, no further processing (production and separation) of the protein in the grasshopper is needed, compared to the processing required for other insects.
  • The flavors and smells of the grasshoppers are close to neutral, while other insects have dominant tastes and smell and thus pose a challenge to the food industry.
  • The grasshopper protein is the only one known as kosher for Jews and halal for Muslims. This is a significant marketing advantage in the US and Europe, where kosher food is perceived as healthier and cleaner.
  • Grasshopper protein is better absorbed in the body than other animal and vegetable sources (meat, soy, seaweed etc.).

Hargol in the Media

 

Forbes

Haaretz

Calcalist

New York Times

GLOBES

Alltech

TheMarker

 

Team

Dror Tamir
CEO
Biography
Dror Tamir is a serial food and nutrition entrepreneur with one exit under his belt. His passion is improving the health of children and families through better nutrition. Dror is an 11 times international awards winning entrepreneur and has held varied positions within several Israeli and international companies over the last 26 years, after a career at the Israeli Navy Budget Department. Prior to founding Hargol FoodTech, Dror founded & was the CEO at Plate my Meal, a startup company, dedicated to the development, production and marketing of simple-to-use healthy eating tools being sold in Israel and USA. Dror Tamir was the Co-founder and Managing Director at Cooking with Tami, a company dedicated to healthy cooking

  • Founder
Chanan Aviv
CTO
Biography
Chanan has been Growing & breeding insects and livestock for 30 years. He is known in Israel as an “insects magician” with abilities to acclimatize, develop and grow a wide range of insects in climate-controlled environments and in large scale. Chanan has been working and developing edible insects and other beneficial insects to support the growing entomophagy movement and other mankind needs.

  • Founder
Ben Friedman
COO
Biography
Ben Friedman is serial Agriculture, Food & Nutrition entrepreneur. His passion is bettering the world‘s hunger & improving the health of children. Ben has held varied executive positions within several International & Israeli companies over the last 20 years. - Over 16 years’ experience in strategic operations management - Ben holds a Master of Science from New York University - CEO & Founder at Haozer & Houser, a consultancy firm‘ help startups, SMB‘s and mid-market companies optimize their use of resources by providing business solutions integrated with industry leading management and related tools & services. - Director of International Innovation at Eurasian Business Union, a member of American Friends of Rabin Medical Center, Honored Member of Continental Who‘s Who, and volunteer at American Israel Friendship League

  • Founder

Financial data

Investors 33

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Updates

Currently there are no updates in this pitch

The Deal

Documents

Disclosures

The financing rounds made through the ExitValley platform are in accordance with a model of statutory exemption from publishing a prospectus pursuant to sections 15A(A)(1) and 15A(A)(7) to the Israeli companies law - 1965.
Under our model, the disclosure of detailed information on the company and information about the investment in each round of financing are limited to not more than 35 investors which are not qualified investors and the round of financing in not in the format of an offering arrangement ("רכז הצעה") as defined in the securities law
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