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- Ynsect
Ynsect Funding, Investors & Competitors
Ynsect has raised $430M across 9 funding rounds, most recently a $11M Series A in April 2025.
Last Ynsect funding round
$11M
Series A · Apr 2025
Cumulative funding Ynsect raised
$430M
across 9 funding rounds
Key investors in Ynsect
Bpifrance
Astanor Ventures
Clay Capital
Emertec
Upfront Ventures
Demeter Partners
FootPrint Coalition
Idinvest Partners
About Ynsect
Ynsect is a Paris-headquartered biotechnology company producing insect-based proteins for animal nutrition. It operates industrial-scale farms in France and the United States, converting black soldier fly larvae into feeds for aquaculture and pet food. Founded in 2011, Ynsect supplies major producers like Cargill and partners with Onéra for bioconversion tech, exporting to 20 countries.
Founded
2011
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Ynsect Funding History
Ynsect has raised a total of $430M across 9 funding rounds.
Ynsect's first fundraising round was a $200K pre-seed round in January 2013. The most recent completed round was a $11M Series A in April 2025.
Ynsect funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2025 | Series A | - | $11M | Ynsect raised a Bridge - II round of $10.11M on July 2, 2025. The company has cumulatively raised $590.42M over 12 rounds or $569.39M over 9 rounds. Its prior Series D round was $175.93M on April 16, 2023. |
| Apr 2023 | Series D | Astanor Ventures; Caisse d'Epargne Hauts de France; Crédit Agricole; Caisse des Dépôts et Consignations; FootPrint Coalition; Wind; Bpifrance; Robert Downey Jr.; European Commission; Upfront Ventures | $176M | Ynsect is a Paris-based insect farming company that develops insect-based proteins for animal feed, pet food, and aquaculture applications. The company operates through a portfolio of subsidiaries and acquired Dutch startup Protifarm in 2021 to expand into human food applications using mealworms. Ynsect has invested heavily in a production facility called Ynfarm, described as a giga-factory and the world's most expensive bug farm, which required hundreds of millions in capital investment to achieve large-scale insect production. On April 16, 2023, Ynsect closed a Series D funding round worth $175.93 million led by undisclosed investors as part of a larger Series D that ultimately raised approximately $200 million or more across multiple tranches. The company had secured approximately $200 million in contracts primarily with pet food producers including French company Virbac, and also held signed contracts with aquaculture feed suppliers like Skretting, though aquaculture production was paused. By 2023, Ynsect had refocused its strategy on pet food and other higher-margin segments following earlier strategic indecision about market focus. Historical revenue data shows the company's main entity peaked at €17.8 million in 2021, but by the 2023 round period the company remained below €10 million in annual revenues, with significant operating losses including a net loss of €79.7 million in 2023, reflecting the capital-intensive nature of the business and pre-commercialization phase of large-scale production capacity. |
| Jul 2021 | Seed | OurCrowd | $5M | Ÿnsect produces insect-based proteins from mealworms primarily for animal feed and pet food markets. The company acquired Dutch mealworm firm Protifarm in 2021 to enter human food applications, though then-CEO Antoine Hubert noted human food would represent only 10-15% of revenue in coming years. Ÿnsect focused on sustainable alternatives to fishmeal and soy, attracting impact investors like Astanor Ventures and Bpifrance. Ÿnsect's revenue from its main entity peaked at €17.8 million in 2021. The company raised significant capital overall, including $372M in 2020, but pursued capital-intensive projects like the Ÿnfarm giga-factory. Later challenges included a 2023 Series D raise of $175.93M amid strategy shifts to pet food and workforce cuts, culminating in judicial liquidation in 2025 after net losses reached €79.7 million in 2023. |
| Oct 2020 | Series C | Astanor Ventures (lead); Armat Group; FootPrint Coalition; Supernova Invest; Happiness Capital; Upfront Ventures; French Partners | $65M | Ynsect is a French agtech company specializing in industrial-scale insect farming, primarily mealworms, to produce sustainable proteins for animal feed, pet food, fertilizers, and aquaculture. The company develops high-tech vertical farms using proprietary technology protected by patents. In 2020, Ynsect raised $372 million USD, described as the largest fundraising for an agtech firm outside the US, enabling construction of Ÿnfarm, the world's largest insect farm near Amiens, France, expected to produce 100,000 tons annually and employ 500 people directly and indirectly. Investors included Astanor Ventures (lead), Upfront Ventures, FootPrint Coalition (backed by Robert Downey Jr.), Happiness Capital, Supernova Invest, Armat Group, and banks like Caisse des Dépôts, Crédit Agricole Brie Picard, and Caisse d’Epargne Hauts-de-France providing equity and debt. This brought total funding since 2011 to $425 million, including prior equity and debt. The 2020 round followed a $125 million Series C in 2019 led by Astanor Ventures. Companies committed $105 million in contracts, with clients including fish feed firm Skretting, vineyard Torres, and fertilizer company Compo Group. Ynsect planned U.S. expansion and new products like wet pet food. The Amiens farm represented a major commercialization step after pilot operations in Dole, France, producing hundreds of tons yearly since 2016. Ynsect joined France's Next40 program in 2020 and attended Davos. Later developments included a Series D of $175.93M in April 2023 and a bridge round in 2025, with total raised approaching $590M over multiple rounds. |
| Feb 2019 | Series C | Astanor Ventures (lead); Water Lemon Ventures; Talis Capital; Idinvest Partners; Bpifrance; Clay Capital; Quadia | $148M | Ynsect is a French ag-tech company that breeds insects, primarily mealworms, and transforms them into premium ingredients such as ŸnMeal and ŸnOil for fish, pet food, and seafood species like shrimp, salmon, and trout, as well as ŸnFrass, an organic fertilizer for crops. The company employs deep tech including automation, AI, sensors for quality control, and holds the world’s largest insect patent portfolio with 25 patents covering technology, products, and applications. Founded in 2011, Ynsect operates a demo facility and focuses on sustainable alternatives to traditional aquaculture and animal feeding practices amid global population growth projections to nine billion by 2050. In February 2019, Ynsect raised a record-breaking $125 million in a Series C funding round, the largest ag-tech deal outside the US and Europe's largest early-stage agtech funding at the time, bringing total fundraising to over $160 million. Astanor Ventures led the round, with participation from existing investors Bpifrance Ecotechnologies, Demeter, Quadia, Vis Vires New Protein Ventures, and new investors including Bpifrance Large Venture, Talis Capital, Idinvest Partners, Water Lemon Ventures (via related entities), Crédit Agricole Brie Picardie, Caisse d'Epargne Hauts-de-France, Picardie Investissement, Finasucre, Compagnie du Bois Sauvage, Happiness Capital, and a Singaporean family office. The funds are earmarked for international expansion, including construction of the world’s largest insect farm in Amiens, northern France, with the first phase enabling 20,000 tons annual capacity of insect protein and potential for further scaling, possibly including a North American facility. Ynsect's products offer health benefits like improved animal growth, boosted immune systems, and enhanced plant growth for grains and vines. The company's founders bring over 50 years of combined expertise in insect farming, entomology, and biochemistry. |
| Dec 2016 | Series B | Bpifrance (lead); Future Positive Capital (lead); Demeter; Clay Capital; Emertec | $15M | Ynsect, a global leader in mass-scale breeding of insects for animal feed markets, closed a $15.2 million Series B funding round on December 15, 2016, led by Future Positive Capital, Quadia SA, and Bpifrance Ecotechnologies, with participation from Emertec, Demeter, Vis Vires New Protein Capital, and Business Angels. This round brought Ynsect's cumulative funding from private and public sources to $37 million over the previous three years, marking the largest investment in the insect protein sector at that time. The company employs robotics and AI-enhanced vertical farming technology to produce high-quality insect protein, targeting fish feed and pet food markets with its transformed meal protein (TMP) offering 72% protein content comparable to top-grade fish meal. The funding supports Ynsect's expansion amid favorable regulatory developments, including the EU's authorization of insect proteins in fish feed starting July 2017, influenced by advocacy from the International Platform for Insects for Food and Feed (IPIFF), where Ynsect's CEO Antoine Hubert serves as President. Ynsect focuses on sustainable protein solutions to address global food demands for livestock and pet diets. |
| Dec 2014 | Series B | Demeter Partners; Clay Capital; ID Capital; Emertec | $7M | - |
| Feb 2014 | Series A | Demeter Partners; Emertec | $3M | Ÿnsect, an insect farming company producing mealworms for fishmeal replacement in animal feed, completed its first fundraising round in February 2014, raising €1.8 million from investors including Emertec Gestion and Demeter Partners. The company was founded in 2011 by four scientists and environmental activists. Following the round, Ÿnsect established its first farm in Dole in 2015 and opened a lab-scale production facility in partnership with research centers in 2013. |
| Jan 2013 | Pre-seed | WILCO | $200K | - |
Who has invested in Ynsect?
26 investors have backed Ynsect across its funding rounds, including Bpifrance, Astanor Ventures, Clay Capital, Emertec, Upfront Ventures and Demeter Partners.
Lead investors include Astanor Ventures, Bpifrance and Future Positive Capital.
Ynsect Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Feb 2019 | ||
| 3 | Lead | Dec 2016 | ||
| 3 | Participant | Dec 2014 | ||
| 3 | Participant | Feb 2014 | ||
| 2 | Participant | Feb 2014 | ||
| 2 | Participant | Oct 2020 | ||
| 2 | Participant | Oct 2020 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Participant | Feb 2019 | ||
| 1 | Participant | Apr 2023 | ||
| 1 | Participant | Apr 2023 | ||
| 1 | Participant | Feb 2019 | ||
| 1 | Participant | Apr 2023 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Ynsect
Ynsect has acquired 2 companies to date.
Last acquisition by Ynsect was on March 29th 2022. Ynsect acquired Jord Producers for undisclosed valuation.
Latest Acquisitions by Ynsect
| Description | Jord Producers is a Netherlands-based enterprise specializing in commercial production of edible insects. The company supplies protein-rich insect ingredients such as crickets and mealworms to food manufacturers pursuing sustainable protein sources. | Protifarm is a Netherlands-based producer of mealworm-derived ingredients for human nutrition, scaling sustainable protein sources from lesser mealworms. Operating the world's largest insect farming facility in Bergen op Zoom, the company supplies powdered and whole mealworms to food manufacturers in Europe and beyond. Certified under HACCP and GMP standards, Protifarm processes 100 tons of insects annually, partnering with brands for protein bars, flours, and snacks amid growing demand for eco-friendly alternatives to soy and fishmeal. |
| HQ Country | ||
| HQ City | Lincoln, NE | Ermelo |
| Deal Date | 29 Mar 2022 | 13 Apr 2021 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Ynsect acquisitions and their M&A valuation multiples. Start Free Trial | ||
Ynsect Competitors
Ynsect competitors include listed companies like CF Industries, Qinghai Salt Lake Industry, Industries Qatar and SABIC Agri-Nutrient, and private ones like Biobest and Agriprotein.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $7.1B | $3.2B | $20B | 3.1x | ||
| Publicly listed | $2.3B | $1.2B | $20B | 4.5x | ||
| Publicly listed | $4.4B | $1.6B | $17B | 4.4x | ||
| Publicly listed | $3.5B | $1.4B | $16B | 4.1x | ||
| Private | - | - | $1.5B | - | ||
| Private | - | - | $117M | - |
Ynsect Public Comps
Ynsect is still privately-owned, but its public comps include Corteva, BASF, Archer-Daniels-Midland, Nutrien, Muyuan Foods, Novonesis, Bunge, CF Industries, Qinghai Salt Lake Industry and Wilmar International.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $17B | $2.9B | 3.3x | 3.2x | 19.5x | 13.9x | |||
| $69B | $8.2B | 1.1x | 1.0x | 8.9x | 8.6x | |||
| $80B | $2.9B | 0.6x | 0.6x | 17.4x | 11.2x | |||
| $27B | $6.1B | 1.9x | 1.8x | 8.2x | 8.0x | |||
| $21B | $5B | 2.0x | 2.3x | 8.7x | 16.1x | |||
| $4.8B | $1.6B | 7.1x | 6.7x | 21.7x | 17.9x | |||
| $70B | $2.3B | 0.6x | 0.5x | 17.9x | 11.2x | |||
| $7.1B | $3.2B | 3.5x | 3.1x | 7.7x | 6.8x | |||
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Common questions about Ynsect
| When was Ynsect founded? | Ynsect was founded in 2011. |
| Where is Ynsect headquartered? | Ynsect is headquartered in Lille, France. |
| Is Ynsect publicly listed? | No, Ynsect is a private, VC-backed company. |
| How much funding has Ynsect raised? | Ynsect has raised $430M across 9 funding rounds. |
| What was Ynsect's last funding round? | Ynsect's last funding round was a $11M Series A in April 2025. |
| Who are Ynsect's investors? | Ynsect's investors include Astanor Ventures, Bpifrance, Clay Capital, Emertec, Demeter Partners, FootPrint Coalition, Upfront Ventures, Armat Group, Water Lemon Ventures, Caisse d'Epargne Hauts de France and 16 others. |
| Which companies are comparable to Ynsect? | Companies comparable to Ynsect include CF Industries, Qinghai Salt Lake Industry, Industries Qatar, SABIC Agri-Nutrient, Biobest and Agriprotein. |
| How many companies has Ynsect acquired? | Ynsect has acquired 2 companies, including Jord Producers and Protifarm. |
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