Ÿnsect snags $375 million Series C, escalating the buzz around insect protein

October 08, 2020
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Mealworm producer Ÿnsect has raised an additional $224 million for its $148 million Series C, bringing the round to $372 million in total. Investors of the latest funding include Upfront Ventures and celebrity Robert Downey Jr.'s FootPrint Coalition. From its first Series C announcement, Ÿnsect planned for a commercial-scale facility that would produce 20,000 MT of protein per year. The facility is now anticipated to produce 100,000 MT per year as early as 2022. Clients, few insect protein companies have claimed expectations of reaching a production scale that comes close to this, and those that have displayed significantly less funding; if Ÿnsect pulls this facility off, it will be a precedent for the funding required to reach this scale.

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