It’s no secret that crickets are packed with protein. But we can’t say we saw this coming.
Nasir “Nas” Jones has invested in a startup that creates energy bars with cricket flour. On Monday, March 7, Exo, which is based in Brooklyn, revealed that it closed a $4 million Series A funding round from investors including AccelFoods, the Collaborative Fund, and the Queens hip hop heavyweight himself.
Although the company has seen decent gain due to its previously launched line of cricket enhanced protein and savory bars online, Exo co-founder Greg Sewitz tells Bloomberg, the sky is the limit: “In the long term, we envision cricket powder being competitive with soy, and whey, and any other protein source … That starts with introducing cricket protein to a consumer base with no direct experience with it and a lot of preconceived ideas that were negative.”
This sale may prove to be lucrative in today’s health conscious society. According to a United Nations, report crickets have twice the amount of iron as spinach and produce 100-times less greenhouse gases than cows. Assuming you can stomach the thought of eating bugs, this could be a win-win for those aiming to get that extra edge in their fitness routine.
Of course, this is just the latest of a long line of investments Nas has made in the last several years. He and his manager Anthony Saleh co-founded QueensBridge Venture Partners in 2012, with a focus on tech. Based in Los Angeles, QueensBridge has invested in more than 40 startups across tech, transportation and entertainment, including Lyft, Dropbox, Parachute, Shift and BitFury. In 2015, Kelis’ ex-husband teamed up with NYC chicken and waffle joint Sweet Chick to help raise the brand’s national profile.
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