Fly farmer and waste-to-nutrient pioneer AgriProtein, has raised a further $105 million (€89.8 million) in funding, marking a new high in investor appetite for the insect protein sector.

The record raise by AgriProtein Holdings UK, together with additional local project finance for a series of factory builds in Africa, the Middle East and Asia, puts AgriProtein on track to deliver its ambitious factory roll-out plans.

“This is a significant vote of confidence in a growth industry producing a sustainable protein for use in animal diets," said AgriProtein Co-founder and CEO Jason Drew.