Great highlight of the Insect-based industry and more broadly to the “FrenchTech” in a recent article from FinancialTime: “Ÿnsect hatches plan for food chain sustainability”.
YNSECT & the French Insect-based Industry
The interview of Antoine Hubert – YNSECT’s CEO – shines a bright light on the recent developments of the company. Ynsect is currently focusing on developing animal feed, specially fish feed to replace part of the need in soybean and corn use, thus reducing the pressure on land use. The company is going forward in making Insect Farming a sustainable and possibly circular business.
In early 2019, Ynsect completed its first Series C round of funding with a 125 Million dollar closing, led by AstanorVentures and notably including BPIFrance around the table. Last September, Ynsect was place in the list of the 40 more promising French Startups “Next 40” from LaFrenchTech.
The article also highlights the recent Innovafeed and Cargill partnership, two additional members of IAR. Together, they will also work toward more sustainable feed, and possibly food markets.
The company is coordinating the #H2020-BBI-JU project FARMYNG. The project will demonstrate a large-scale, first-of-its-kind bio-based value chain producing sustainable, safe and premium feed products from an innovative origin: the Tenebrio molitor insect (mealworm).
IAR strongly contributes to the dissemination, communication and exploitation activities of this BBI project. We will also oversee the industrial replication study based on our competitive intelligence expertise.
FinancialTimes Website: https://www.ft.com/content/a0cafa04-6274-11ea-abcc-910c5b38d9ed
Ynsect series 2 funding PR (FR): https://www.ynsect.com/fr/ynsect-leve-125-millions-de-dollars/ and BPI-France PR: https://presse.bpifrance.fr/ynsect-leve-125-millions-de-dollars-pour-devenir-le-leader-mondial-des-proteines-alternativesnbsp/
Cargill & Innovafeed Partnership PR: https://www.cargill.com/2019/cargill-and-innovafeed-partner-to-bring-innovative-sustainable