French alternative-protein producer Ynsect has raised $125 million (€110 million) in venture capital to build the world's largest insect farm.
The insect farm will be built close to the northern French city of Amiens, and at capacity can produce around 20,000 metric tons of insect protein annually. Apart from the insect farm, the company will also open a new factory in North America.
The fundraising is led Astanor Ventures, and backed by international funds including Bpifrance, Talis Capital, Idinvest Partners, Finasucre and Compagnie du Bois Sauvage, and is the largest-ever ag-tech funding deal outside of the United States.
