MARKET ANALYSIS

ŸNSECT RAISES US $ 372M TO BUILD WORLD’S LARGEST INSECT FARM

Insect farming company Ÿnsect announced that they have extended their Series C funding to US$ 372 million and will use the money raised to build the largest insect farm in the world in the city of Amiens, France. The farm will be completed in 2022 and will produce 100,000 tons of insect products annually, as well as create 500 direct and indirect jobs. Its the first time the company got the support of U.S.-based investors, which will allow Ÿnsect to expand beyond Europe and Asia into the United States and grow its markets into the supply of wet pet food.