Biotechnology company in the field of organic waste recycling Entoprotek has attracted $2 million in investments from Israel's Granot, Vedomosti writes.

The current round, which will be completed by the end of 2022, is for $30 million.

In addition to the investment in the Russian plant, Entoprotek and Granot have agreed to co-finance a facility to produce fodder protein from organic waste in Israel, and cooperation in the Middle East and Africa is being considered.

"Entoprotek was founded in 2016 by Damate owners Naum Babaev and Rashid Khairov and their partners Ivan Sokolov and Alexander Bastrakov. The company processes products that have lost their consumer properties, food waste and agricultural waste at its own facility. To process food waste, the company uses the larvae of the black lionfly insect.

Made in Russia // Made in Russia