Ÿnsect, a Paris, France-based agtech company that specializes in breeding insects and transforming them into premium ingredients for fish feed, pet food and organic plant fertilizers, raised a $125m (€110m) in Series C funding.
The round was led by Astanor Ventures, with participation from Bpifrance Ecotechnologies, managed on behalf of the French Strategic Investment Plan, Demeter, Quadia, Vis Vires New Protein Ventures, Bpifrance Large Venture, Talis Capital, Idinvest Partners, Crédit Agricole Brie Picardie, Caisse d’Epargne
Hauts-de-France and Picardie Investissement, Finasucre and Compagnie du Bois Sauvage, Happiness Capital and a Singaporean family office. In conjunction with the funding, Astanor Ventures co-founder Eric Archambeau is joining Ÿnsect’s board.
The company intends to use the funds to scale up production by building an insect farm in Amiens Metropole, Northern France, grow internationally, particularly in the North American market, opening there a new factory.
Co-founded in 2011 by CEO Antoine Hubert, Jean-Gabriel Levon, Alexis Angot and Fabrice Berro, Ÿnsect leads the global field in farming insects, turning them into premium, high-value ingredients. The company aims to make insects a major, first-class ingredients in feed for pets, fish and plants, such as ŸnMeal proteins, that offer significant health benefits through industrial facilities attuned to natural ecosystems, offering a natural, long-term solution to growing global demand for protein.
Since its inception, Ÿnsect has raised more than $175 million. It now employs 105 people in France.