By Jo Nova
In the renewable frenzy of the early 2020s Ÿnsect raised €600 million to “Reinvent the food chain” and pioneer alternative foods that “respect the planet’s boundaries”. Some $200 million of their funding came from hapless taxpayers somewhere. But in record time, seemingly before it began, it has already gone. Bankrupted. And not because people don’t want to eat mealworms (which they don’t) but because there wasn’t much market in making animal feed either. It turns out that farm owners didn’t want to spend 2 to 10 times as much on “sustainable” cattle fodder. So the company shifted focus to high end pet food, where besotted owners have money to spare, but that crashed too.
h/t Tom Nelson
How reality crushed Ÿnsect, the French startup that had raised over $600M for insect farming
By Anna Heim, TechCrunch
The company’s demise is hardly a surprise, as Ÿnsect had been embattled for months. Still, there is plenty to unpack about how a startup can go bankrupt despite raising over $600 million, including from Downey Jr.’s FootPrint Coalition, taxpayers, and many others.
Ultimately, Ÿnsect failed to fulfill its ambition to “revolutionize the […]










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