The support of these new investors brings the 2018 financing total to 55M€, which will enable the company to significantly accelerate its development. Over 200M€ will be invested in the launch of 5 new production sites by 2020. 

Throughout 2018, the company has laid the foundations to scale up its industrial and commercial activity.  This financing operation validates the soundness and the maturity of InnovaFeed’s model. 

Following the implementation of the new European regulations allowing the use of insect protein in aquaculture, InnovaFeed launched a pilot site which kicked-off its industrial production. Thanks to this first production site, InnovaFeed in partnership with a French retailer, was the first to propose fish that have been fed with insects to end consumers. Building on its successes of the first half of the year, the company announced in September the construction of a new production site in partnership with Téréos, a French a cooperative sugar group, which will increase its production capacity to 10 000 T of protein/yr. 

The new investor group joins historical investors including Olivier Duha (Co-founder of Webhelp) and the Partners of Accuracy, and banking players structured around Crédit-Agricole with, among others, Caisse d'Epargne, BNP and HSBC. They are taking over from the company's early investors such as Alter Equity or Finovam.

The participation of these larger investors will enable InnovaFeed to pursue its ambitions, which include strengthening the team to triple its size by end of 2019. InnovaFeed plans to deploy its production model at a large scale, including international expansion by the end of 2022.

“We believe that the success of our project will rely first and foremost on building a world class team, with strong values,” explained the founders of InnovaFeed. “It will also require deploying our model on new geographies, starting with Europe and the Unites States. The support of these new investors, by the reach they bring to our company, will enable us to achieve the vision we had when we founded InnovaFeed.”