The company has the total confidence of its international investors. Indeed, Ÿnsect raised €315 million from them, and in so doing, carried out the most successful fund-raising campaign ever by a non- American agriculture company. Ÿnsect also ranked third among the ten French companies having raised more than €100 million in 2020. This new arrival of capital lifts the company’s total investments since its creation to €350 million—more than the entirety of funds raised by insect-sector companies worldwide! Among the new investors are several American entities, including Upfront Ventures, Los Angeles’ largest venture capital firm, and Foot Print Coalition, an investment group founded by Actor Robert Downey Jr, who brought undreamed of attention to the company when he held up a jar of its insect powder on a major American television late show. The video went around the world. The capital increase will finance the construction, close to Amiens, of the world’s largest vertical insect farm providing a yearly ingredient production capacity of 100,000 metric tons.
In addition to being named “Revelation of the Year” in the 2020 BFM Awards in November, Ÿnsect’s fertilizer, ŸnFrass, garnered market authorization from the French Agency for Food, Environmental and Occupational Health & safety (ANSES). The start-up thus became the first worldwide to obtain commercial homologation for a natural, insect-derived fertilizer. ŸnFrass granules can be used in all types of plant culturing: market farming, arboriculture, viticulture, lawn grasses, ornamental flowers, intensive corn, colza & wheat farming, etc. In a study performed on potted barley, the mealworm beetle waste (“frass”) proved as effective as mineral fertilizers, and, when mixed with them, stimulated soil microbial activity. Ÿnsect has given exclusive French agriculture market commercialization rights for its organic fertilizer to the company Angibaud. Other contracts have been signed with Torres, a Spanish wine producer, and the Compo Group for the gardening market.