• Ynsect

  Participated · Series B · Dec 2016

  Ÿnsect produces natural insect protein and is shifting its commercial focus from primarily animal feed to pet foods and food ingredients. The company says the new capital will support that pivot toward higher-margin markets. Ÿnsect cited soaring costs—energy, raw materials and the cost of capital and debt—as a driver for refocusing its operations. As part of the refocus it will close a Dutch production plant acquired via Protifarm about two years ago. The shutdown triggers 35 immediate job cuts and a further 38 positions slated to go, from a workforce of 360 (a 20.27% reduction). Management says the move responds to market dynamics where animal feed is less remunerative than pet-food and food-ingredient markets. The company declined to disclose investors for the newest raise and said a second tranche is in discussion. Ÿnsect farms mealworms that produce protein ingredients for animal feed and fertilisers and is constructing a large insect farm in Amiens, north France. The company says it will complete construction in 2022 and produce 100,000 tons of insect products annually. Ÿnsect plans to use the new funding to finance expansion into the US. Management frames the technology as a more sustainable way to produce food inputs amid climate change and growing populations. The company reported that Covid-19 had little impact on its workflow this year. Its total funding to date now stands at $425 million. Ÿnsect produces insect-derived protein at scale using mealworms and automated, sensor-driven cultivation technologies. The company applies automation and sensing technologies from industries like automotive and data centers, holds 25 patents, and uses an AI-enabled, fully automated production process. Its products are sold into pet food, plant food and aquaculture animal feed markets, with particular emphasis on fish and shellfish farming. Ÿnsect is expanding globally and plans to build what it calls the world’s biggest insect farm in Amiens Métropole in northern France, while beginning expansion into the North American market. The company is on track to book more than $70 million in revenue this year. Management has signaled a goal of reaching unicorn status as it scales production and market reach. Ynsect is an innovation company that farms and transforms insects into high-quality natural diets for livestock and pet nutrition, and potentially human nutrition in the longer term. Its main product is TMP — Tenebrio molitor protein — a de-fatted protein meal made from farmed mealworm larvae. The company has designed proprietary technology to farm mealworm larvae, using automation and machine-learning software connected to sensors to ensure insect welfare, promote growth, and safeguard operators' health. Ynsect intends to increase capacity at Ynsite, its pilot centre in Jura, France, and to begin preparatory engineering for a large insect unit targeted to produce at least 20,000 metric tons of insect protein per year. The company closed a $15.2M Series B, bringing cumulative private and public funding to $37M over the prior three years. Founded in 2011 and based in Evry, France, Ynsect focuses on scaling mass-breeding and processing of mealworms for the animal feed market. Ynsect is a French insect biotechnology company founded in 2011 that has developed Entoraffinerie© for the nutritional and green chemistry markets. The company has run major R&D programs with academic and research institutions across France and Europe, including CEA, INRA, CNRS, IFREMER, AgroParisTech, IRSTEA and Wageningen University. Ynsect raised €5.5m in funding from New Protein Capital alongside existing investors Emertec Gestion and Demeter Partners. The company intends to use the funds to advance its solution, accelerate R&D in a new 1,700 m² facility at Genopole in Évry, and begin industrializing its processes. Ynsect also plans to strengthen its international position, particularly in Asia, and continue developing partnerships with manufacturing companies abroad. It is supported by Bpifrance and the Île-de-France Region.

• Sabella

  Participated · Equity · Dec 2016

  Sabella is a French designer of marine turbines best known for its high-powered tidal turbine, the Sabella D10. The Sabella D10 has been providing green electricity to the island of Ouessant for a few months. The company raised €8 million in a funding round to support its operations and growth. The new financing is earmarked to back Sabella's international expansion, with particular focus on Southeast Asia and North America. Management has stated the funds will enable deployment of its solution internationally and support planned projects, including one in Asia.

• eLichens

  Participated · Equity · Jul 2016

  eLichens develops patented micro gas sensors and a comprehensive AI-based platform for indoor and outdoor air quality analysis and prediction. Its product set includes sensor hardware and integrated stations aimed at smart city, smart home and smart building markets. The company plans to market large volumes of its micro gas sensors to industrial customers and deploy its platform at scale for urban gas leak detection, worker safety and energy-efficiency applications. Recent contracts with major international industrial groups have supported commercial traction and international expansion. Financially, eLichens completed a new EUR 7 million capital increase backed by historical investors and new entrants, following an earlier >EUR 4 million raise in July 2016. The team leverages patented technologies developed with partners such as CEA-Leti and MIT and maintains headquarters in Grenoble with offices in California. eLichens develops software and miniaturized optical micro-sensors to digitalize air quality and deliver hyper-local, personalized air-quality information. Its innovative, patented solutions are developed jointly with research laboratories including CEA-Leti and target industrial, smart home, smart city and consumer electronics applications. The company emphasizes ultra-low power consumption sensors and a broad patent portfolio as technological differentiators. eLichens plans to accelerate time to market for smart sensor products and deploy solutions for gas/pollutants detection, analysis and prediction in consumer and industrial markets. The recently announced strategic fundraising of over €3 million will be used to deliver products to first customers, recruit talent and step up investment in innovation to complement its technology portfolio. Management says the team has established strategic industrial partnerships, has a presence in the US, Europe and Asia, and aims to become a leader in air quality services.

• Naïo Technologies

  Participated · Seed · Dec 2015

  Naïo Technologies designs electric field robots that autonomously weed crops using a combination of computer vision and GPS to detect crop lines and distinguish weeds from valuable plants. The company says its machines can reduce or eliminate chemical pesticide and herbicide use while improving farm profitability. Naïo currently has about 150 robots deployed across Western Europe, Japan and parts of North America. Founded in 2011 and based near Toulouse, France, the company has 70 employees and plans to add up to 60 more over the next three years. It intends to enter the U.S. market later this year and positions its technology as part of a broader ecological and social transition toward more sustainable farming. Financially, Naïo previously raised $3.5 million in 2015 and has now secured new funding to support its international expansion. Naïo Technologies develops autonomous weeding robots for vegetable and vineyard farms, using laser and camera guidance plus plant-recognition to identify weeds. The company currently has 30 robots deployed on small French farms up to 10 hectares and began marketing its robots in 2015. It raised €3 million in seed financing and will use the proceeds to expand into parts of Northern Europe (Denmark, Germany and Sweden) and to fund R&D. Planned product development includes a hoeing robot for open-field vegetable farms over 10 hectares and a vineyard robot able to weed five hectares per day. Naïo plans to double its sales in 2016. The company has won several awards, including the 2015 Mechatronics Award, the Special Jury Award at the French Collaborative Robotics Contest 2015, and the CleanTech Republic Award at COP21.

• Olygose

  Participated · Equity · Jan 2015

  Olygose develops and produces a range of patented oligosaccharide products extracted from protein-based plants, offering soluble proprietary prebiotic fibres with clinically proven advantages in healthy food. Its ingredients have been shown to affect weight loss, satiety and metabolic conditions including obesity, diabetes and metabolic syndrome. Applications include everyday foodstuffs (fizzy drinks, yoghurt, confectionery) and medicalized nutrition for patients with high cardiovascular or metabolic risks. The company’s clinical programs rely on recent research into the intestinal microbiota, with its main clinical trial coordinated by Professor Karine Clément at ICAN / Pitié Salpétrière. Olygose plans to use new funding to speed up clinical trials to obtain health claims, increase production capacity to several thousand tonnes a year, continue applicative R&D programs and reinforce international sales teams in North America and Asia. The company was founded in 2009 and has 15 staff.

No current team members are available.