ENTOINNOV has raised €1.5 million to support the industrialization of mealworm farming, attracting investments from YEAST and other angel networks due to its innovative technology and strong market potential.
Target Information
ENTOINNOV, a start-up specializing in innovative mealworm farming technologies, has successfully raised €1.5 million from a consortium of investors including YEAST, Alsace Business Angels, the ILP group, and I-NEO. Founded in 2021 by Fayçal Ounnas, the company focuses on creating a sustainable and integrated supply chain for mealworm farming. This capital infusion will enable the accelerated industrial development of larval production at a new facility.
Industry Overview in France
The insect farming industry in France is rapidly evolving, driven by increasing demand for alternative protein sources. With a multiple progression rate of 10 since 2021, the market for insect-based proteins is experiencing swift internationalization. This growth is fueled by concerns over sustainability and environmental impact associated with traditional livestock farming.
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In recent years, the French government has implemented various initiatives, such as the France2030 program, to support innovative companies contributing to
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Disclosed details
Transaction Size: $2M