5 years ago

NextProtein Raises $11.2 Million for Insect-Based Animal Feed

  • NextProtein, a French-Tunisian startup developing insect-based animal feed and fertilizer, has secured €10.2 million ($11.2 million) in Series A funding

  • This is the largest early-stage agrifoodtech deal in Tunisia to date

  • The round was led by Blue Oceans Partners, with participation from Telos Impact, RAISE Impact, Mirova, Althelia Sustainable Ocean Fund, Kepple Africa Ventures, and Aucfan Incubate Inc

  • NextProtein plans to use the funds to expand its operations and target the aquaculture industry.

      • ProblemAgrifoodtech

      "Animal feedstocks are a significant challenge in the aquaculture industry, and there is a need for sustainable and environmentally-friendly alternatives."

      Solution

      "NextProtein uses EU-approved organic waste to raise black soldier fly larvae for animal feedstocks, providing a scalable and sustainable solution for the aquaculture industry."

      Covered on