Nine months after its first 1.8 million euros funding campaign, YNSECT, “The Insect Company”, a company specialized in insect biotechnology, has raised another 5.5 million euros. YNSECT is on its way to become a European and World leader in the insect field.
The world is facing a major challenge: the food demand is expected to double by 2050, and current methods for agriculture and aquaculture will be insufficient to respond the demand. The situation is worrying with our need for fossil fuels. Faced with this anticipated scarcity of resources and protein, insect production and transformation may be a viable solution, although it has not yet been achieved on an industrial scale.
In 2011, YNSECT was created to develop Entoraffinerie, an insect biorefinery. This one-of-a-kind technological solution combines industrial-scale insect farming with their transformation into useful molecules for the nutritional and green chemistry markets. Over the past 9 months, the company has successfully rolled out a pilot Entoraffinerie project, which received the 2030 Global Innovation Award.