French insect player scales the heights
There was also interest in our piece in September on how Innovafeed had secured US$250m in Series D funding to accelerate its international expansion.
The French insect protein company has become the one of most successful in the sector now in terms of attracting capital.
It said it will use the latest funds to continue to increase production capacity in France through the further expansion of its Black Soldier Fly (BSF) based Nesle production site in the Somme department.
The capital will also go towards its international expansion strategy, notably in the US with the construction of a new production plant in Decatur, Illinois, in collaboration with ADM. In addition, the round will support a global roll-out of Innovafeed's technology as well as ensuring ongoing investment in ingredient R&D.
Photo credit: GettyImages/John Lamb
