An award-winning startup founded in Leicestershire is set to be shut down due to a lack of investment.
Thomas Constant announced the closure of BeoBia on Linkedin, citing an especially difficult time climate tech startups in the UK.
His startup BeoBia began life as a device which harvested insects in households, and was launched as a successful Kickstarter campaign in 2020. Later the Loughborough graduate would pivot to producing insect-based pet products, and then again to industrial insect production with a warehouse in the Midlands.
The entrepreneur won a number of awards for his business and was even named in Forward Fooding’s FoodTech 500, which compiles “the world’s first definitive list of the global entrepreneurial talent at the intersection between food, technology, and sustainability”.
However after failing to raise further funds to scale his outfit, he has decided to close down the company.
Commenting on Linkedin, he said:
“I have made the call to wind BeoBia down. It hurts to write that. But I do not look at this as a failure. I am so so so proud of what we tried and everything we learned along the way.”