€1.3m for nextProtein to invest in insects for feed
NextProtein, a French-Tunisian agri-tech startup, specialised in producing animal feed from insect larvae has received €1.3 million in fundraising.
This makes it possible to scale up production at its new expanded operations in 2017. The company uses Black Soldier Fly larvae and process them into valuable components for aquaculture, livestock and pet food, and agricultural fertiliser.
After reaching the 2016 daily milestone of producing 30 kg of insect larvae from 300 kg of fruit and vegetable waste, nextProtein aims to convert between five and 10 tonnes of organic waste into one tonne of protein and oil from its new 2500m2 production site and its 15-person team, in 2017.
