Ÿnsect raises $125m to become world leader in alternative protein

Feb 25, 2019 · uktech.news

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Ÿnsect, the ag-tech innovator that specialises in breeding insects and transforming them into premium ingredients for fish feed, pet food and organic plant fertilizers, has raised a $125m (€110m) Series C round.

It aims to use the money to scale up production by building the world’s biggest insect farm in Amiens Metropole, Northern France and develop the company internationally, particularly in the North American market.

Led by Astanor Ventures – and backed by established international funds including Bpifrance, Talis Capital, Idinvest Partners, Finasucre and Compagnie du Bois Sauvage – this investment is the largest-ever ag-tech funding deal outside of the US.

With a mission to tap into the natural goodness of insects at mass-market scale to help create a sustainable food system and meet the rising demands of global protein consumption – which is predicted to surge by 52% between 2007 and 2030 – Ÿnsect was co-founded in 2011 by CEO Antoine Hubert, Jean-Gabriel Levon, Alexis Angot and Fabrice Berro, with the aim of becoming the global leader in the market for alternative protein sources.

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