Innovafeed Raises €51M To Expand Sustainable Insect-Based Aanimal Feed Production

The round was supported by existing investors including Creadev, QIA, Temasek, FFC, ABC Impact, and ADM, along with backing from its banking partners. The company also announced the completion of its industrialisation phase and a strategic reorganisation around its Nesle site, which will now focus on scaling commercial production.

Founded in 2016, Innovafeed uses Black Soldier Fly (Hermetia illucens) larvae to produce alternative proteins and oils that can replace fishmeal and vegetable oils in animal feed. Its technology replicates the insect’s natural life cycle at industrial scale, supported by around 3,000 sensors and AI-driven systems that automate key processes such as egg collection and counting.

The company also operates a proprietary wet transformation process for larvae, designed to improve product quality and digestibility. Its Nesle facility is now fully operational and has produced over 15,000 tons of protein and oil in three years, while significantly improving efficiency boosting output tenfold and reducing production costs by a factor of seven.

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Since its last major €250 million Series D round in 2022 led by Qatar Investment Authority, Innovafeed reports strong commercial growth, with revenues doubling annually through partnerships in aquaculture and pet food markets. It also claims its products can reduce carbon emissions by 70–90% compared to conventional feed ingredients.

As part of its next phase Innovafeed is shifting focus from R&D toward commercial expansion and operational excellence. This includes integrating zootechnical R&D activities into the Nesle site and restructuring its workforce, with plans to reduce around 60 positions, primarily at its Gouzeaucourt facility.

The new funding will support the expansion of its Hilucia™ product range, investment in industrial equipment and processes, and optimisation of production capacity to accelerate commercial deployment in global markets.

Clément Ray, CEO and cofounder of Innovafeed, said, “Since day one, we have carried a dual ambition: to demonstrate that we can produce high-performing, competitive, and sustainable ingredients for nutrition without relying on the intensive exploitation of marine resources; and that it is possible to build an innovative industrial project in France.

“The successful scale-up of our industrial model marks a major milestone for Innovafeed today and opens up a new phase of commercial deployment. Innovafeed is now focusing its efforts on accelerating the development of value chains for its ingredients, capturing the full value of their multiple functional properties improving animal health and growth, which have been validated and proven for ten years now.”