9/20/2022
-QIA led €250 million Series D financing
-Innovafeed is a leader in the production of insects-based protein for animal and plant nutrition
-The financing will support the company’s international expansion, as well as further research and development (R&D)
Paris, 20 September 2022 – Qatar Investment Authority (QIA) led a €250 million Series D financing round for Innovafeed, a global biotech company and a leader in the production of insects-based protein for animal and plant nutrition.
The financing round saw the participation of new investors including QIA, Bpifrance, through its joint venture Future French Champions, ABC Impact, Grow Forward, and IDIA Capital Investissement. Existing investors of the company, Creadev and Temasek, as well as global agribusiness leaders ADM and Cargill also took part in the round.
Innovafeed will use the financing to continue increasing production capacity in France through the further expansion of its Nesle site in the north of France, the world’s largest vertical insect farm. It will also support with accelerating the company’s international expansion, notably in the United States with the construction of a new production plant in Decatur, Illinois.
Dedicated to innovation, Innovafeed will use this opportunity to continue investing in breakthrough technology, and research and development (R&D) for the formulation of high-precision, high-performance and highly sustainable ingredients for animal, plant and, in the future, for human food.