Innovafeed
French biotech industrialising the production of proteins and oils from Hermetia illucens as alternatives to fishmeal and vegetable oils.
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Podcast Episode
🎙️ Deep Dive
Innovafeed, GR3N, Resand — circular industrialisation for proteins, PET and foundry sand — Daily News June 5, 2026
Listen to the episodeAbout Innovafeed
Innovafeed develops and produces functional, sustainable insect-based ingredients for animal nutrition, pet food and agriculture. The company uses the black soldier fly to create alternatives to fishmeal and vegetable oils, with a circular industrial model centred on its Nesle site. The new €51M financing supports a commercial development phase after completion of industrialisation.
The Story
Founded in 2016 by Aude Guo, Bastien Oggeri and Clément Ray.
How Innovafeed works
Business Model
B2B industrial biotech manufacturing for customers in aquafeed, pet food, animal nutrition and agriculture.
Revenue Model
Sales of functional and sustainable ingredients to industrial customers; pricing details are not public.
Products & Services
Key Products
- Insect protein ingredients
- Insect oil
- Animal nutrition ingredients
- Pet food ingredients
- Agricultural ingredients
Core Use Cases
- Aquaculture feed
- Animal nutrition
- Pet food
- Agricultural inputs
- Alternative protein supply
Market & Clients
Key Customers
Animal nutrition, aquafeed, pet food and agriculture companies.
Geographic Presence
How Innovafeed competes
Competitors
Competitive Advantages
- Industrial-scale Nesle production unit
- Commercial traction with structured partnerships
- AI and robotics used in breeding operations
- Reported production cost reduction
- Circular industrial symbiosis model
How Innovafeed grows
Growth Strategy
Focus on commercial development of product ranges after completing industrialisation, centred on the Nesle production site.
Distribution Model
B2B ingredient sales to industrial food, feed and agriculture customers.
Moat (Defensibility)
Industrial production process, scale-up experience, customer partnerships, biological process know-how and operational data from large-scale insect farming.
Regulatory Context
Relevant to animal feed regulation, pet food ingredients, food safety, agricultural input regulation and sustainability claims.
Key Risks
- Cost competitiveness versus traditional ingredients
- Customer adoption cycles
- Regulatory and food/feed approval requirements
- Capital intensity of industrial biotech
- Operational complexity of biological production
Strategic Insights
- Sustainability must translate into nutritional performance and industrial competitiveness.
- The Nesle site is the proof point for scale.
- Production cost reduction is central to competing with traditional ingredients.
Funding & Investors
Funding Rounds
- 2026 - Funding round: €51M
- 2022 - Series D: €250M
Lead: QIA
Key Investors
Founding Team
Founders
Key Executives
- Clément Ray - CEO
Key Metrics
Lessons from Innovafeed
- In climate biotech, industrialising is harder and more important than validating the product.
- Commercial traction arrives when industrial customers see performance, supply reliability and cost competitiveness.
- Circularity works when it becomes a supply chain, not only an impact story.
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