Aquaculture for all

€15.5 million raised by Dutch insect firm

Feed ingredients Alternative proteins +2 more

Protix, which produces black soldier fly larvae for use in aquafeeds, has raised €15.5 million as it bids to expand internationally.

Protix opened a €40 million production facility, in the Dutch town of Bergen op Zoom, in 2019

Invest-NL accounts for €7.5 million of the new investment, while Protix's current shareholders – including Aqua-Spark, Rabo Corporate Investments, and the Brabant Development Company (BOM) – are also involved in the transaction.

Protix opened a €40 million production facility, in the Dutch town of Bergen op Zoom, in 2019. The company intends to use the new funding round to further optimise production capacity and accelerate international expansion.

“Protix is very pleased with this new investment round. This is another step in expanding our leadership in the insect industry. The financing of Protix fits very well in the investment strategy of Invest-NL, supporting innovative, fast-growing companies and a focus on the CO2-neutral transition,” said the company in a press release, issued this week.

"I am pleased that we can support Protix in strengthening its international top position in the fast-growing market for insect-based ingredients. I also think it is favourable that we establish this transaction together with the European Investment Fund (EIF). With the 'InnovFin SME guarantee' that we recently agreed with the EIF, innovative, fast-growing companies can scale up even faster with the help of European investment funds,” said Wouter Bos, CEO of Invest-NL.

"Protix was born from innovation with a focus on positive environmental impact. We are the founder of a whole new category of proteins and other nutrients and the brilliant colleagues at Protix work on this day and night," added Kees Aarts, founder and CEO of Protix. "This is another great step in the expansion of our leadership and many more will follow in the coming period".

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