Dutch insect farming startup Protix raises €50M to bring the food system back in balance with nature; here’s how

The United Nations projects that the world population will reach more than 9.7 billion by 2050, and this has a major impact on food production as it will also have to double. 

To combat future food shortages, several foods and production methods have been proposed as alternatives. Insects have also received maximum attention because of their ability to turn low-grade food waste into valuable high-end proteins and fats.

This is where the Netherlands-based insect farming startup Protix wants to make a difference. The startup is working towards bringing the food system back in balance with nature.

The Dutch startup announced on Tuesday that it has raised €50M in a fresh round of funding for international growth. The company had last raised €15.5M in February 2021.

Investors and capital utilisation

The current round saw investment from European Circular Bioeconomy Fund (ECBF), BNP Paribas, The Prince Albert II of Monaco Foundation, and The Good Investors. Existing investors, including Aqua-Spark, Rabo Investments, and Invest-NL, also participated in this round.

Protix, in a LinkedIn post, says, “We are very pleased to welcome such an impact-oriented group of investors supporting our mission to bring the food system back in balance with nature. Continued appetite from financial institutions and impact investors alike reinforces our step-wise approach of scaling our business. This is an important step towards further exponential growth.”

The company claims that the proceeds from this round will be used for further international expansion and ‘ground-breaking’ R&D.

Innovation for sustainability

Founded in 2009 by Kees Aarts, Protix believes in harnessing technology to produce the ingredient of the future – insects. The company farms Black Soldier Fly (Hermetia illucens) mainly for use in animal and aquaculture feed, with sidelines including frass-based fertiliser.

Protix claims that this particular fly’s larvae provide a unique source of protein for food and feed. Organic waste from the food industry serves as feed for the insects. And in turn, the insects are processed into sustainable ingredients like proteins and lipids.

These nutrients are used by Protix’s customers as nutritious ingredients in various animal feed applications. Insect ingredients are more sustainable ingredients than soy or fishmeal and help prevent overfishing and deforestation for soy cultivation.

With high-tech solutions, artificial intelligence (AI), genetic improvement programmes, and robotics, Protix claims it brings the food system back in balance with nature. Its products are available in 13 countries and range from pig and poultry feed to specialty pet foods.

In 2019, King Willem-Alexander, the king of the Netherlands, officially opened the world’s largest insect farm at Protix in Bergen op Zoom, the Netherlands.