Founded in 2016 in Nesle, in the Somme region, Innovafeed carries a clear ambition: to offer a sustainable, high-performance alternative to the traditional proteins used in animal nutrition. In a context marked by Europe’s reliance on imported soy and growing pressure on natural resources, the company has built a robust industrial solution based on insect farming.
The €51 million fundraising announced in 2026 confirms this trajectory and marks a decisive turning point for the entire French insect industry. A clear-eyed read of a strong signal, at a time when other players in the sector — starting with Ynsect — are facing major difficulties.
The black soldier fly (Hermetia illucens), an exceptional industrial lever
Hermetia illucens (black soldier fly): a larva rich in proteins (35 to 45% of dry matter) and lipids (15 to 40% depending on substrate), life cycle of 30 to 45 days in industrial farming, with a bioconversion rate of around 20 to 25% (4 kg of agricultural co-products yield ~1 kg of live larvae).
Innovafeed’s technological engine relies on the farming of the black soldier fly (Hermetia illucens). Its larvae, particularly rich in proteins and lipids, are transformed into high-quality meals and oils for animal nutrition (aquaculture, poultry, pet food).
This biological choice is far from incidental. Unlike other insects, the black soldier fly offers fast growth, an exceptional ability to upcycle agricultural co-products and optimal industrial yield. It produces ingredients with high nutritional value while significantly reducing the carbon footprint compared with conventional proteins such as soy or fish meal.
Innovafeed’s model is a textbook case: pragmatic industrialisation of a biology compatible with the cost and volume requirements of the animal feed market.
The Nesle site: from lab to 100,000 tonnes per year
Innovafeed is no longer settling for technological promises: it is taking action. Its Nesle site, in the Somme, perfectly embodies this scale-up. With hundreds of millions of insects farmed and an industrial capacity of 100,000 tonnes of ingredients per year (proteins, oils and insect fertilisers combined, including around 15,000 tonnes of proteins), the company is proving its ability to transform a model long stuck at the experimental stage into a powerful industrial sector.
| Year founded | 2016 |
|---|---|
| Main site | Nesle (Somme, France) |
| Species farmed | Hermetia illucens (black soldier fly) |
| Production capacity | 100,000 t ingredients/year (incl. ~15,000 t proteins) |
| 2026 fundraising | €51 million |
| Profitability target | 2027-2028 |
| Target market | B2B animal nutrition (aquaculture, poultry, pet food) |
This operational mastery is now one of Innovafeed’s main strengths. In a sector where scale-up has proved complex — as illustrated by the court-ordered liquidation of Ynsect on 1 December 2025, after roughly €148 million of public money consumed over the decade — Innovafeed appears to have found the key to stability.
A €51 million fundraising in a turbulent market
€51 million to accelerate execution
The recent €51 million fundraising marks a new and crucial step. Raised from its historical investors (see the official statement on the Innovafeed website), it is intended to support commercial acceleration, strengthen the industrial tool and optimise production costs. In a financial environment where capital is rushing massively towards artificial intelligence, this operation is a strong signal in favour of industrial deeptech.
A strong signal of investor confidence
This funding comes in a tense context for the industry. Several major players have run into significant difficulties or outright failures. In this turbulent landscape, Innovafeed’s ability to rally its shareholders again signals real credibility built on the ground. Over the decade, Innovafeed has raised close to €450 million from private investors (QIA, Temasek, Cargill, ADM, Creadev), complemented by targeted public funding (Bpifrance, France 2030) — a classic mix for industrial deeptech.
From R&D to commercial performance: a phase shift
This fundraising comes with a difficult but necessary strategic shift. After a decade devoted to research and technological development, Innovafeed is entering a phase of optimisation and commercial deployment. The reorganisation under way, which sees a reduction in R&D activities in favour of industrialisation, reflects a decisive evolution for any deeptech: moving from proof of concept to pure profitability.
Innovafeed vs Ynsect: pragmatic industrialisation vs XXL ambitions
Comparison with Ynsect is unavoidable. Long seen as the industry leader, Ynsect bet on the mealworm and on colossal investments to build highly complex production units. Conversely, Innovafeed has favoured a more progressive approach, focused on an insect better suited to industrial constraints and on clearly identified outlets.
This pragmatism is what allows Innovafeed to keep its operations running where others have failed to stabilise their model. The lower entry ticket, the more tolerant biology of the black soldier fly and the focus on a single site make it possible to learn quickly and correct course in time.
Innovafeed vs Jimini’s: B2B ingredient vs consumer brand
The difference with Jimini’s is even more striking. Jimini’s operates on the human food market with finished products (snacks, bars, powders). Innovafeed, on its side, positions itself upstream in the value chain as an ingredient supplier for animal nutrition. This B2B model makes it possible to address massive volumes while sidestepping the cultural barriers still tied to direct human consumption of insects.
Two models, two philosophies, one shared commitment to building an alternative protein industry.
| Innovafeed | Ynsect | Jimini’s | |
|---|---|---|---|
| Insect farmed | Hermetia illucens | Mealworm | Mealworm, locust, cricket |
| Target market | B2B animal nutrition | B2B feed | B2C human food |
| Product format | Meals + oils | Proteins, lipids, chitin | Snacks, bars, powders |
| Founded | 2016 | 2011 | 2012 |
| 2026 status | Growth, +€51M raised | Court-ordered liquidation (Dec 2025) | Pioneer gourmet brand |
Industry criticism: how solid are the arguments of the National Observatory of Insect Farming?
The (very) controversial role of the National Observatory of Insect Farming
The rise of this new industry attracts criticism, in particular about its real environmental impact. Some analyses circulated in the public debate come from structures such as the National Observatory of Insect Farming. However, a closer reading of these criticisms calls for a degree of caution.
The posture of this body deserves to be questioned. Behind a claim of independence, several elements suggest a gap between this mission and the economic interests it appears to relay, notably in favour of plant proteins such as soy. One question naturally arises: why create an “observatory” dedicated to an industry if not to steer — or even discredit — public perception in favour of a competing industry? The body only relays critical studies and never mentions the scientific research demonstrating the nutritional and environmental benefits of insects. Strange for an industry observatory.
This question is all the more legitimate as intensive soy farming is responsible for massive deforestation, notably in the Amazon. The credibility of these statements must therefore be examined rigorously. This situation echoes well-known strategies, where established industries fund scientific-looking discourse to slow the rise of emerging alternatives, as the tobacco industry once did. The debate on the energy consumed by the insect industry is necessary, but it should not obscure the interests of those carrying the criticism.
It is also essential to remember that intensive soy farming is one of the leading drivers of deforestation in Brazil, especially in the Cerrado (which concentrates 66% of land conversions according to WWF), and indirectly in the Amazon. Any comparative analysis between protein alternatives must factor in this environmental externality — insects, conversely, upcycling existing agricultural co-products.
Between environmental critique and ideological stakes
The arguments raised often centre on the energy consumption of the plants. While these issues deserve to be debated, they must be placed in a broader scientific frame: massive CO2 emissions gains, reduced dependence on imports and benefits for animal health. Innovafeed responds with industrial proof and measurable data, in a logic of continuous improvement.
2027-2028: the profitability milestone
Accelerating commercial traction
Recent performance speaks for itself: Innovafeed’s revenue has more than doubled in one year. Driven by growing demand for sustainable animal nutrition, the company is converting its technological lead into commercial success on strategic international markets.
A durable competitive advantage
The company is achieving a rare alignment of three dimensions: environmental sustainability, nutritional performance (digestibility, animal health) and economic competitiveness through a drastic reduction in production costs.
Toward profitability: the 2027-2028 horizon
The objective is now clear: reach profitability by 2028, with a first break-even milestone for the Nesle site targeted for late 2027. Backed by a solid industrial base, a targeted commercial strategy and the renewed support of its investors, Innovafeed has a credible trajectory to establish itself as one of the global leaders of a sustainable industry. In the current climate of media scepticism toward the sector, this is a welcome — and necessary — signal of confidence for all players, from industrial B2B to consumer B2C.
At Jimini’s, we keep cultivating another path: aperitif moments and everyday cooking. Discover our insect-based aperitif range and our full selection in our online shop.
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