After obtaining €160 million ($175.5M) from new and old stakeholders in a Series D funding round, Ÿnsect now plans to expand to North America and Asia. The French insect farming start-up intends to further develop and extend ist portfolio as well as to achieve marketing authorizations for several ingredients across different markets.
Furthermore, the company will build a dozen vertical farms by 2030 to increase international presence. Therefore, it has partnered with local industrial players in the US and Mexico last year. Ÿnsect let GlobalPETS know that they are currently working on increasing foothold in Asia.
The Paris-based company will open a new farm in Amien processing “the biggest volume” of production. Ÿnsect awaits an additional €911 million ($1B).
The French company was founded in 2011 and operates as insect processor for the whole food chain including pet food. It runs 3 production facilities across Europe and the US, containing the biggest vertical farm worldwide and an own R&D center.
Read the original article here – globalpetindustry.com