InnovaFeed, an Evry, France-based biotech company producing insect-based protein for the feed industry, raised €15m in funding.
The round was led by Alter Equity with participation from Finovam Gestion, IRD Group’s Nord Création, and Siparex-managed fund Nord France.
The company will use the funds to continue to develop its products.
Led by Aude Guo, Bastien Oggeri, and Clément Ray, InnovaFeed is a biotech company that produces a new source of protein from insect rearing (Hermetia illucens) for animal feed, more specifically for aquaculture.
The company currently produces and markets meal and oil extracted from the Hermetia Illucens larva, as well as fertilizer made with insect droppings.