France's insect protein company Innovafeed has raised $250 million (€251 million) in Series D funding, it announced Tuesday. This round, led by Qatar Investment Authority (QIA), also includes existing investors Creadev and Temasek, the company said.

It also includes new strategic and financial investors ADM and Cargill – both of which already have strategic partnerships with Innovafeed – as well as Future French Champions, ABC Impact, IDIA Capital Investissement and Grow Forward.

The company confirmed with IntraFish this is the first time ADM and Cargill have taken a financial stake in InnovaFeed.