Exo, the makers of protein bars from cricket flour, has been acquired by Austin-based Aspire Food Group, which manufactures a number of cricket-based food products. Terms of the acquisition were not disclosed.
Founded by Gabi Lewis and Greg Sewitz in 2014, Exo had raised a total of $5.2M in funding over three rounds. Its backers include Marc Bell Ventures, Collaborative Fund, Hedgewood, Wakestream Ventures, Timothy Ferriss, Nasir “Nas” Jones, Dentsu Ventures, AccelFoods, Innovative Fund, and Tim Ferriss. Exo will operate as the consumer brand of Aspire and the Exo founding team will not remain with Aspire after the transition.
This transaction solidifies NYC’s ecosystem’s strength in the edible insect market.
