Dutch insect-based feed developer Protix received €45 million ($50.4 million) in funding from a joint contribution between Aqua-Spark, Rabbobank, BOM and various private investors.

Protix products are currently used in more than 12 countries for animal feed including aquaculture, and has drawn the attention of players in the industry due to the low environmental impact of its feed and the potential in volumes.

"Due to increasing demand from our loyal and valuable customers, we're ready to scale," said Kees Aarts, CEO of Protix.