MiAlgae said it will apply the investment toward commercializing the sustainable ingredient for use in pet food and aquaculture applications.

The company has wholly acquired EnviroFlight, LLC, a company which rears and produces high-quality, sustainable proteins from black soldier fly larvae.

The dog treat startup is on track to save 150,000 lbs. of produce from waste streams by the end of 2020 thanks to its utilization of upcycled food ingredients.