InnovaFeed, an Evry, France-based biotechnology company producing insect-based protein for the feed industry, raised €40m in funding.
The round was led by Creadev, with participation from international investors.
The company intends to use the funds to strengthen the team and deploy its production model at a large scale.
Led by Aude Guo, Bastien Oggeri, Clément Ray, Guillaume Gras, and Yann Grierson, InnovaFeed is a biotech company that produces insect meals for the feed industry, by leveraging breeding technology based on an optimized zootechnical model.
The startup produces and markets meal and oil extracted from the Hermetia Illucens larva, as well as organic amendment made with insect droppings.