Founded in 2013 by Shobhita Soor, Gabe Mott and Mohammed Ashour, the company has raised $53.2M in funding and ranks 1st amongst 22 active competitors in total funding. The company's competitive advantage lies in its automation-first approach, leveraging advanced technology and data-driven farming to reduce costs and improve production consistency in a nascent industry.
Cyborg Score Rationale
Aspire demonstrates strong market position with leading funding ($53M+) and technology differentiation through automation. However, recent industry headwinds (Ÿnsect bankruptcy in late 2025, sector struggles with competitiveness) and company receivership history suggest execution and market adoption remain challenging. The company has weathered setbacks but faces uncertain unit economics scaling.
Top Insights
Leadership positions automation and data science as core differentiator—most competitors lack comparable tech infrastructure; company has filed 12 patents in agricultural robotics and monitoring
Sector faced significant headwinds in late 2025 (Ÿnsect judicial liquidation Dec 2025, ENORM bankruptcy Nov 2025), signaling margin compression and difficulty scaling profitably—Aspire recovered from prior receivership with new ownership, positioning for turnaround
Product strategy pivoted from B2C (EXO brand acquisition 2018, later divested to Hoppy Planet Foods) to B2B supply chain focus, reducing consumer perception risk but narrowing revenue streams
Multi-geography play (Austin R&D, London Ontario production facility with $8.5M government co-investment, Ghana weevil R&D) spreads risk and localizes supply chains; circular economy via cricket frass biofeeds and chitin/chitosan byproducts
Named Competitors
LIVIN Farms — Insect farming automation for cricket and mealworm protein
Chapul Bars — Cricket protein bar and snack products
Entocycle — Black soldier fly larvae farming for protein
Beyond Meat — Plant-based protein alternative (substitute category)
Recent Developments
(June 2022) New ownership acquired Aspire out of receivership with plans to restart cricket production at London, Ontario facility
(February 2026) Global edible insects market projected to reach $5.78B by 2032, driven by sustainable protein demand