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Ÿnsect secured €8.6m in a bridge funding round to maintain operations and restructure after facing insolvency. The company aims to relaunch its activities while addressing concerns in the insect protein industry.
Amount Raised
€8.6 Million
Description
Ÿnsect, the French scaleup specializing in insect farming, recently announced a funding of €8.6m in a bridge round to continue its operations after filing for insolvency. This follows a previous €10m bridge round aimed to support the company's restructuring efforts. However, despite the funding, the company has laid off a significant portion of its staff and is rethinking its production model. The insect protein industry is watching closely as Ÿnsect works to overcome its challenges.
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