Protix, a Dongen, The Netherlands-based insect proteins company, closed €45m funding round.
Backers included Aqua-Spark, Rabobank, BOM and other private investors.
The company intends to use the funds to scale production of insect proteins.
Founded in 2009 by Kees Aarts and Tarique Arsiwalla, two former McKinsey & Company colleagues, Protix breeds insects for animal feed, as insects offer a low-impact protein alternative that can be cultivated on a variety of food scraps.
The company serves the animal feed industry while also developing food applications for consumers. Their products are used in over 12 countries to date – in feed applications ranging from pig and poultry to pet food specialties.