InnovaFeed has secured €51 million in a follow-on funding round, largely from existing partners like Creadev and QIA, to accelerate commercial deployment. This capital injection follows the company's successful industrialization phase, marked by a tenfold increase in production volumes and a sevenfold decrease in production costs at its Nesle site. InnovaFeed plans to leverage this funding to expand the value chains for its insect-based ingredients, which have demonstrated a doubling of annual revenue over the past three years.
Amount: $51.0M
