The Innovafeed company, based in Paris, France, and focuses on producing insects (Hermetiaillucens) for plant and animal nutrition, has raised US$250M through Series D funding.
The round brings the total financing to US$450m. Qatar Investment Authority led it. Temasek and Creadev also participated.
The company will use the funds to increase productivity and accelerate international expansion. They also intend to continue investing in technology.
Innovafeed, co-founded by Aude Guio, Bastien Olgeri, and Clement Ray, is a company that develops technology to replicate nature’s processes at an industrial scale. IF is a circular, zero-waste agri-food company reproduces insects’ natural roles. It creates and supplies various products, including insect protein, to aquaculture and insect oil for poultry and pigs.
The company also announced that Yves Amsellem, a French-American national, has joined IF to become Chief Operating Officer, and Maye Walraven has been appointed General Manager for North America. This is a new role. Innovafeed’s vice-president of business development was previously her.