Key Takeaways
- Loopworm, an Indian startup, focuses on using silkworms for sustainable aquaculture feed production.
- The company aims to leverage existing sericulture infrastructure in India, enhancing efficiency and scalability.
- Loopworm has raised $6.65 million and plans to expand internationally by 2026.
Innovative Approach to Aquaculture Feed
Loopworm, founded in 2019 by Ankit Alok Bagaria and Abhi Gawri, is a Bangalore-based biotechnology firm that seeks to use silkworms in aquaculture feed production. With the growing global demand for fishmeal and the associated sustainability challenges, the company emphasizes the need for alternative protein sources. While black soldier flies (BSF) are commonly utilized for insect-based feed, Loopworm stands out by using silkworms, taking advantage of India’s rich sericulture infrastructure that has evolved over thousands of years.
Silkworms are particularly well-suited for this industry due to their consistent amino acid composition, which aligns with traditional fish diets. Initially, Loopworm sourced BSF larvae for food byproducts but soon shifted focus to silkworms. This approach not only enhances sustainability by using controlled cultivation practices, but it also leads to cleaner and nutritionally consistent feed, as silkworms feed exclusively on mulberry leaves.
As the second-largest aquaculture producer globally, India presents significant opportunities for Loopworm. The aquaculture industry, primarily composed of small- and medium-scale farmers, is highly price-sensitive and focused on feed conversion efficiency. Bagaria mentions that even minor improvements in feed conversion can profoundly impact profitability, making innovative solutions vital.
Loopworm operates a primary production facility in Bangalore, with an annual capacity of 6,000 tons, serving aquaculture operations in India and beyond, including Japan and Latin America. The strategy involves targeting markets with robust sericulture practices and expanding into regions where aquaculture is progressing rapidly.
Bagaria highlights the unsustainability of relying on wild-caught fish for feed, stating that it takes significant wild fish volume to produce fishmeal, with alarming statistics illustrating the inefficiency of this model. Thus, the introduction of insect protein presents a viable alternative that is both protein-rich and environmentally sustainable.
To date, Loopworm has successfully raised $6.65 million, with plans for international expansion and scaling its recombinant protein platform by 2026. The firm aims to help mitigate protein shortages and alleviate the pressure on wild fish populations, thus fostering a more sustainable future for aquaculture.
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