FarmInsect has successfully secured €8 million in its Series A to fund the commercial scale-up of our insect farming solution. The round saw participation from new investors including Sandwater, Bayern Kapital, Minderoo Foundation, and European Innovation Council and SMEs Executive Agency. Existing investors including HTGF | High-Tech Gründerfonds and UnternehmerTUM also participated in the round.
“We are very grateful for the trust that our investors have placed in us,” said Thomas Kuehn, Co-Founder and CEO of FarmInsect. “Together we will pursue our ambitious goal to make insects the go-to protein source ahead of soy and fishmeal in the EU.”
Agriculture, a significant contributor to global CO2 emissions, poses a threat to our planet due to its destructive impact. Like oceans, rainforests absorb carbon dioxide from our atmosphere. Therefore, removing them from our ecosystem releases enormous emissions back into the atmosphere. This causes devastating effects on the local wildlife and biodiversity.
Therefore, Wolfgang Westermeier and Thomas Kuehn created FarmInsect with the aim of making agricultural animal feed production more sustainable. Headquartered in Munich, the agtech company provides a modularized, end-to-end solution for decentralized, on-site production of insect larvae. FarmInsect focuses on innovation, using advanced breeding techniques and adaptable genetic strains for insect larvae production. In addition, customers can save up to 30% on feed costs, reduce organic waste, and earn extra revenue from fertilizer, biogas, and larvae sales. Moreover, the Series A funding will enable the commercial scale-up of FarmInsect’s farming solution and R&D work on their technology.
Source: FarmInsect