Source: AgFunder news
NextProtein, a French-Tunisian startup working on new ways to produce insect-based animal feed and fertilizer, has raised €10.2 million ($11.2 million) in Series A funding. According to AgFunder data, this is the largest early-stage agrifoodtech deal in Tunisia yet.
Leading the round were a group of investors drawn together by Blue Oceans Partners, including Telos Impact and RAISE Impact. Further support came from Mirova and Althelia Sustainable Ocean Fund, along with Japan’s Kepple Africa Ventures and Aucfan Incubate Inc (since its founding in 2015, nextProtein has also secured funds from investors including Kima Ventures and angels Khaled Helioui and Cyril Grislain.)
Using EU-approved organic waste to raise black soldier fly larvae for animal feedstocks, nextProtein will first target the aquaculture industry.