Hedman Partners assisted BugBox, a company engaged in the development of edible insect mass rearing technology and software, in raising 1,5 million euros. The investment will be used to develop the fully automatic technology.
Priit Piilmann, the strategic investor, has been following the progress of Estonian start-ups for a long time and has considered investing in them. In addition to the funds, Piilmann will also contribute to BugBox with his experience and competence in production.
BugBox develops edible insects mass rearing technology and software. BugBox’s projects are supported by the Norway Grants Green ICT program, EAS innovation grant & the European Union’s Horizon 2020 program. The company is also a leader and member of the Estonian Insect Industry Association.
The client was advised by senior associate Kati Pino.