February 21, 2019 / 12:02 AM / 6 months ago

French start-up Ynsect raises $125 mln for protein production

PARIS, Feb 21 (Reuters) - French insect farming start-up Ynsect said on Thursday it had raised $125 million in a financing round led by Astanor Ventures.

* The financing will support the planned construction of its first full-scale production site, in Amiens, northern France, as well as the development of a factory in North America, Ynsect said in a statement.

* The site in Amiens, construction of which is due to start this year, will produce 20,000 tonnes of insect protein annually, notably for fish feed, the company said.

* Ynsect has now raised a total of $175 million since its founding in 2011 and has secured $70 million in orders for the next four years, it said. (Reporting by Gus Trompiz; Editing by Sudip Kar-Gupta)

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