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French Start-Up Ÿnsect Raises $224m To Build Bug Farm

Published on Oct 6 2020 11:59 AM in A-Brands tagged: Trending Posts / France / World News / Ÿnsect / Bug Farm / Footprint Coalition / Robert Downey Jr

French Start-Up Ÿnsect Raises $224m To Build Bug Farm

French start-up Ÿnsect, which harvests mealworms for bug-based food and fertiliser, has raised $224 million from investors including Robert Downey Jr.'s Footprint Coalition to build an insect farm near Paris and expand in North America.

Ÿnsect has now raised $425 million, after a previous $125 million fundraising and subsidies of $23 million, a spokeswoman for the company told Reuters.

Insect-Based Nutrients

Led by Antoine Hubert, Ÿnsect uses larval beetles for the production of insect-based nutrients for pets and fish, and as fertiliser for plants.

As well as the FootPrint Coalition, Astanor Ventures, Upfront Ventures, Hong Kong-based Happiness Capital, Supernova Invest and Armat Group took part in the fundraising.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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