Series C of 315 million euros for the 'green' startup Ÿnsect
Ÿnsect, a startup accompanied by Agoranov from 2012, announces a new fundraising of 190 million euros. It closes its Series C at €315 million, reaching more than €360 million in funds raised, an amount greater than the total funds raised by the insect protein sector worldwide.
The French startup, which specializes in the breeding of mealworms, is financing its first plant in the Hauts-de-France region and its international expansion. With the world's first vertical farm with a negative carbon footprint, Ÿnsect is improving the sustainability and safety of the world's food supply by reducing the impact of agriculture on the planet.
INVESTORS WON OVER BY THE FRENCH GREEN STARTUP
Ÿnsect, a member of the Next40, has convinced new investors for this round: Astanor Ventures, Upfront Ventures, Robert Downey Jr.'s FootPrint Coalition, Happiness Capital, Supernova Invest and Armat Group. They join historical investors Bpifrance, Talis capital, IdInvest, Finasucre, Bois Sauvage and Vis Vires New Protein Capital. These funds are also supported by a banking consortium including Caisse des Dépôts, Crédit Agricole Brie Picardie and Caisse d'Épargne Hauts-de-France.
DEEP TECH WITH IMPACT
Ÿnsect transforms insects into ingredients for aquaculture, plants and pets. To protect its innovative vertical farm concept, the startup has filed more than 30 patents. The startup can count on the support of numerous customers, such as Torres, Skretting and Compo Group, which have already signed contracts worth a total of 90 million euros. Scheduled for 2022, the world's first vertical farm with a negative carbon footprint will help create nearly 500 direct and indirect jobs.