Insect Farming Startup Raises $175 Million for Food Expansion
- France’s Ynsect to focus on higher-value food for pets, humans
- Niche bug market emerging as sustainable protein alternative
An employee holds mealworms inside the Ynsect insect farm in Dole, France.
Photographer: Cyril Marcilhacy/BloombergThis article is for subscribers only.
Insect farming startup Ynsect SAS has secured more funding as it expands globally and looks to prioritize higher-value food for pets and humans.
The French company closed a €160 million ($175 million) financing round, bringing the total amount raised so far to about $625 million. It’s shifting away from animal feed — such as mealworms fed to fish — to high-margin pet food and food ingredients to boost profit amid soaring energy, raw materials and debt costs.