Innovafeed, a Paris, France-based company focused on production of insects (Hermetia Illucens) for animal and plant nutrition, raised US$250M in Series D funding.
The round, which brings total cumulative financing to US$450m, was led by Qatar Investment Authority (QIA), with participation from Creadev and Temasek, as well as and new strategic and financial investors including ADM and Cargill – both of which have strategic partnerships with Innovafeed – as well as Future French Champions, ABC Impact, IDIA Capital Investissement and Grow Forward.
The company intends to use the funds to increase production, accelerate its international expansion, and continue to invest in technology.
Co-founded by Aude Guo, Bastien Oggeri and Clément Ray, Innovafeed develops technologies that reproduce nature’s processes on an industrial scale. By building a circular and zero waste agri-food chain replicating the insect’s natural role, the company develops and provides a wide range of products including insect protein for aquaculture; insect oil for pigs and poultry; and 100% natural fertilizer from insect droppings.
The company also announced that Yves Amsellem has joined Innovafeed as Chief Operating Officer and Maye Walraven, a French-American national, has been named as General Manager for North America, a newly created role. She previously served as Innovafeed’s vice president of business development.
FinSMEs
21/09/2022
The participation of world-class agribusiness leaders ADM and Cargill, both customers and suppliers of Innovafeed’s feedstock inputs, underscores the role of Innovafeed’s unique and cutting-edge technology and the insect industry’s ability to transform the food system into more natural and sustainable one.
“Our expansion in the United States is a critical step for our scale-up. It will enable us to access a deep source of feedstock and significantly increase our production capacity. I am very excited to be working closely with our local industrial partners, who are key contributors to accelerate the development of the entire industry and are supporting our momentum by their investment,” added Walraven.