French-Tunisian agri-tech startup nextProtein, which produces animal feedstock from insect larvae, has secured €1.3 million in fundraising to scale up its expanded operations in 2017.

The company’s bioconversion process produces feedstock protein using significantly less land, water and energy resources, with less greenhouse gas emissions, than traditional agriculture, it said.

Founded by couple Syrine Chaalala and Mohamed Gastli, nextProtein harvests black soldier fly larvae, which is processed into valuable components for aquaculture, livestock and pet feedstocks, as well as agricultural fertilizer.

The agri-tech startup attracted funds from a range of high-profile international investors including Xavier Niel’s Kima Ventures, Silicon Valley business angel Jerome Lecat, and Khaled Helioui, who has also invested funds in Uber and Deliveroo.

“I was struck by the scalability and sustainability of nextProtein’s model, leveraging the unused and otherwise useless inventory of organic waste to generate much needed protein to feed animals and supply organic fertilizer – all with almost no carbon footprint,\" said Helioui. \"Supporting them and investing in their business was an obvious choice.”

Source: Undercurrent News // Original Article