Innovafeed insects ready to feed fish and poultry

Larvae of Hermetia Illucens (black soldier flies) source of protein, but also edible oil or fertilizer. Innovafeed

The start-up raises 250 million euros to build vertical farms.

Two years after launching production of its insect protein at its Nesle site (Hauts-de-France), Innovafeed never stops feeling its wings grow. On Tuesday, the start-up that breeds black soldier flies for animal feed and aquaculture announced that it had raised 250 million euros. This round table was carried out with its historical investors (the Singaporean sovereign fund Temasek or that of the Mulliez family, Creadev) but also with QIA, the sovereign fund of Qatar, and the giants of commodity trading ADM and Cargill, "a very small minorityaccording to company co-creator Clément Ray.

After this fundraising completed at the end of June, the young shoot has totaled some 450 million euros collected since its creation in 2016. Enough to make its American dream come true. In addition to R&D on the genetics of its insects, this new funding round will finance, in equal parts, extensions of its French vertical farm in Nesle and the construction of a new…

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