Cyns, a Sao Paolo, Brazil-based biotechnology company focused on black soldier fly (BSF) farming in Latin America, received an investment as a part of its Seed funding from Sumitomo Corporation.
Lambarin Investimentos, a Brazilian family office and wealth management firm, also joined the round along with Sumitomo.
The amount of the deal was not disclosed.
The company intends to use the funds to expand its development and R&D sector. It is also preparing for its Series A investment round, expected for 2026, to expand production capacity in Brazil and internationally, starting from neighboring countries in South America.
Founded by Paulo Bogorni and João Pisa, Cyns is a biotechnology company specialized in sustainable insect-based animal nutrition in South America to produce and market black soldier fly-based ingredients. It has developed a cost-competitive horizontal BSF rearing system that delivers high bioconversion rates with minimum HVAC requirements by leveraging Brazil’s naturally-suitable conditions for BSF rearing and large availability of sustainable food byproduct streams which are used as the source of nutrition for BSF larvae.
FinSMEs
30/01/2024