NextProtein, a France-headquartered provider of insect-based feedstock, has completed a €10.2m ($11.2m) series A round that included Aucfan Incubate, an investment vehicle for e-commerce platform Aucfan, AgFunder News reported yesterday.
Blue Oceans Partners, Telos Impact, Raise Impact, Mirova, Althelia Sustainable Ocean Fund and Kepple Africa Ventures also contributed to the round.
Founded in 2015, NextProtein has developed an animal feedstock that uses black soldier fly larvae. It will put the series A funding into building a second production facility to go with its first, which is located in Tunisia.
The company had previously raised $1.4m in 2017 from Kima Ventures and angel investors including Jerome Lecat, Khaled Helioui, Sylvie Ganter, Christophe Cervasel and individuals from AngelSquare and the Anaxago financing platform.
