As of February 2019, Ynsect had raised $175m in funding. Ynsect plans to construct a production farm in Amiens, Northern France and a factory in North America. The farms will be run by robots. The type of mealworm beetle raised by Ynsect is used in fish food, pet food and plant fertilizer.
The company expects that their farm will produce about 20,000 tons of protein per year on an automated farm that uses machines to feed, monitor and harvest the insects as one-inch larvae. The larvae are boiled and processed into a brownish powder which can go into food for shrimp, salmon and trout. The company has a smaller scale production already in Burgundy where it uses sensors and predictive mathematical models for automation.
Backers in the round include Los Angeles VC firm Upfront Ventures and the FootPrint Coalition, an eco-focused investment vehicle financed by actor Robert Downey Jr.
$125m in a financing round, led by Astanor Ventures. The financing will fund a production site in Amiens, France.
BUSINESS DEVELOPMENT DIRECTOR
FARMING R&D DIRECTOR
CHIEF FINANCE OFFICER
TRANSFORMATION R&D DIRECTOR
THIBAULT DU JONCHAY
CHIEF INDUSTRIAL OFFICER
French start-up Ynsect raises $125 mln for protein production