Betting big on the soaring need for food independence and demand for high-quality insect protein, French startup Invers has raised €15 million in funding to transform insects into an alternative source of proteins for animal feed. The Series A round was led by IDIA Capital Investissement and Agri Impact, a fund managed by Citizen Capital in partnership with Fondation Avril.
Insects, as an alternative source of proteins, will be a key resource in near future to feed our planet while reducing our environmental footprint. The startup offers a circular model which develops local supply channels. This model relies on partner farmers for breeding, and on cooperatives for sourcing and commercialisation. Invers’ extensive range of pet food products is already sold in 500 specialised stores throughout France, members of country-wide networks such as Gamm Vert, Magasin Vert, Botanic.
The cash infusion will enable the company to scale up and structure a whole agricultural supply chain on a national scale, first by deploying in the Auvergne Rhône-Alpes region for up to 50 farmers in the Limagne plain. In its second phase, the platform aims to duplicate the model across all French regions.
Sébastien Crépieux, CEO and founder of Invers said: “Unlike other players, Invers relies on an innovative, circular business model which involves co-ops and farmers, with a clear ambition to structure a supply chain of insects and participate in the food and agricultural transition in progress.”