Ÿnsect announced the extension of its Series C capital funding to $372 million
Ÿnsect, a Paris, France-based agri-tech company that farms insects to make high-quality feed for fish, plants and pets, announced the extension of its series C funding to round to a total of $372 million.
Ÿnsect had previously announced closing series C initially at $148 million iin 2019.
The company, founded in 2011 by CEO Antoine Hubert, is a leader in environmentally friendly products and farming techniques. The company grows mealworms in vertical farms and sells the protein mainly to speciality pet food companies and for use as fertiliser and is pending approval from European regulators to start producing food for human consumption.
At the same time, Ÿnsect is in the process of building an automated insect farm in Amiens in Northern France, with plans to expand the vertical farming model around the world.