Nasekomo Closed a EUR 4 mln Funding Round – the Largest Publicly Announced AgTech Deal in the Region

Nasekomo received an investment of 4 million Euro from the Bulgarian funds NV3 and Morningside Hill backed by the Fund of Funds in Bulgaria and private investors from the UK, France, South Africa and Bulgaria. This is the largest publicly announced AgTech deal in the region. The funds will be used to further develop the company’s automated insect breeding technologies.   

Nasekomo utilizes the incredible biological abilities of the larvae of black flies (the so-called Black Soldier fly) to turn organic waste into animal food. In a short time the larvae absorb great amounts of biowaste, drastically increase in size and in turn, after processing, become raw materials for pet food additives, for the agricultural sector, and even for the cosmetics industry.  

Nasekomo’s robotized insect rearing technology is a unique solution on the agrotech market. The company launched only three years ago and since then has managed to increase its production capacity over 25 times.   

“We have spent the last 3 years developing unique solutions for the insect rearing market. Nasekomo has leveraged robotics, A.I. and big data which allow us to produce insect protein efficiently. We will not only be competitively producing large volumes, but also addressing the challenges of our world related to animal feed”, states Marc Bolard, co-founder and technology lead of Nasekomo.

The 4 million investment will allow Nasekomo to increase its market presence and its productivity by implementing more solutions related to robotics and automatisation and data analysis.

You can find more details in the official company statement of Nasekomo.