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Ÿnsect raises $125m

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Ÿnsect, the ag-tech innovator that specializes in breeding insects and transforming them into premium ingredients for fish feed, pet food and organic plant fertilizers, announces today that it has raised a $125 million (€110m) Series C round to scale up production by building the world’s biggest insect farm in Amiens Metropole, Northern France and develop the company internationally, particularly in the North American market. Led by Astanor
Ventures — and backed by established international funds including Bpifrance, Talis Capital, Idinvest Partners, Finasucre and Compagnie du Bois Sauvage — this investment is the largest-ever ag-tech funding deal outside of the United States.

With a mission to tap into the natural goodness of insects at mass-market scale to help create a sustainable food system and meet the rising demands of global protein consumption – which is predicted to surge by 52% between 2007 and 2030 – Ÿnsect was co-founded in 2011 by CEO Antoine Hubert, a 36-year-old agronomist, Jean-Gabriel Levon, Alexis Angot and Fabrice Berro, with the aim of becoming the global leader in the market for alternative protein sources.

At capacity, Ÿnsect’s largest farm to date will produce around 20,000 tons of protein annually. Alongside this new facility at Amiens, the investment will also enable Ÿnsect to step up their international expansion programme by opening a new factory in North America.

The majority of Ÿnsect’s existing investors (Bpifrance Ecotechnologies, managed on behalf of the French Strategic Investment Plan, Demeter, Quadia, and Vis Vires New Protein Ventures) are participating in this latest round, which is being led by Astanor Ventures (Belgium), alongside Bpifrance Large Venture, Talis Capital (UK), Idinvest Partners, Crédit Agricole Brie Picardie, Caisse d’Epargne Hauts-de-France and Picardie Investissement (France), Finasucre and Compagnie du Bois Sauvage (Belgium), Happiness Capital (Hong Kong) and a Singaporean family office.

Advisors:
Bank: Jefferies (Philippe Le Sann & Joseph Benito Sanz)
Company lawyers: Baker & Mc Kenzie (Mathieu Grollemund & Helene Parent)
Investors lawyers: Orrick (Olivier Edwards), Gide (Pierre Karpik, Louis Oudot de Dainville), Luchtenberg (Jeremie
Swiecznik), Bignon Lebray (Neil Robertson, Quentin Dosda), Lamartine Avocats (Fabien Mauvais).