Volare, a Pori, Finland-based biotechnology food company, raised €26M in funding.
Backers included Maki.vc, Firstminute Capital, Springvest, The Finnish Climate Fund (to be merged with Finnish Industry Investment), Finnvera, Norion Bank, and other financial investors.
The company intends to use the funds to expand operations and its development efforts.
Founded in 2021, Volare is a science-based company developing and deploying technology to turn food industry side streams into sustainable insect protein, oil and fertilizers on an industrial scale. Its focus is on the black soldier fly (Hermetia illucens), which naturally converts food industry byproducts into high-value resources.
The company will start building the first industrial scale plant in 2025 in Finland. An offtake agreement with Skretting, a global aquafeed leader, will also ensure long-term demand from the upcoming facility.
The team includes:
- Tuure Parviainen, who has led Volare as CEO since its founding, will transition to the role of CSO. In this new position, Parviainen will focus on advancing the company’s core technology and overseeing the development of its new industrial facility.
- Jarna Hyvönen, the new CEO.
FinSMEs
27/05/2025