Ÿnsect
Ÿnsect was a company that produces insect-based proteins and natural fertilizers, founded in 2011 in Paris.
History
In 2011, Ÿnsect was founded by four scientists and environmental activists: Antoine Hubert, Jean-Gabriel Levon, Fabrice Berro, and Alexis Angot.In February 2014, Ÿnsect completed its first fundraising round, raising €1.8 million from shareholders such as Emertec Gestion and Demeter Partners. The group's first farm was established in Dole in 2015.
In 2018, Ÿnsect announced the installation of a new production site in Poulainville, in the Amiens metropolitan area, France. The vertical giga-farm planned to cover 45,000 m².
In 2019, the company joined the Next40 index.
In March 2020, Ÿnsect became the first company in the world to obtain authorization to market a natural insect-based fertilizer, granted by ANSES. In October 2020, the company announced that it had completed its Series C, bringing its total funding to $425 million.
In March 2021, Ÿnsect was awarded B Corp certification. In April 2021, Ÿnsect acquired Protifarm, a Dutch company, and expanded its patent portfolio to more than 340 patents across 41 patent families. This acquisition was part of the company's strategy to enter the insect-based human food market.
In March 2021, Ÿnsect announced the launch of Ÿnfabre, the first industrial genomic selection program applied to large-scale insect farming. In 2021, as part of its Terrha 2040 project, Ÿnsect committed to planting 1.8 million trees in the Hauts-de-France region, with the goal of sequestering more than 190,000 tons of CO2 by 2040. In May 2021, Ÿnsect held the groundbreaking ceremony for its Amiens construction site.
The consequences of the COVID-19 pandemic on global supply chains, followed by the economic impact of Russia's invasion of Ukraine, led to an increase in the company's costs, which doubled between 2022 and 2023, and affected the commissioning of the Poulainville site. The group then refocused on animal feed to improve its margins. In November 2021, Ÿnsect launched a partnership with the startup Pure Simple True to produce luxury dog treats marketed under the brand Bernie's. In November 2021, Ÿnsect also signed an agreement with Lotte's R&D center in Korea.
In March 2022, Ÿnsect announced the acquisition of its first production site in the United States. The integration of Jord Producers marked its entry into the backyard chicken feed market. This site was closed two years later.
At the beginning of 2023, the company raised €160 million in a Series D round from existing shareholders, including €107 million in convertible bonds. This fundraising was accompanied by layoffs affecting just over 20% of its workforce in offices located in Paris and the Netherlands, due to the closure of a production site. The startup was then valued at more than €600 million. In July 2023, CEO Antoine Hubert stepped down from his position. He was replaced by Shankar Krishnamoorthy.
Following a series of setbacks in the industrialization of its technology and a change in its business model, the company was placed under safeguard proceedings on September 26, 2024.
On February 17, 2025, the application deadline, no takeover or investment offers had been submitted to the commercial court, raising fears of an unfavorable outcome for the future of the company, which had raised €600 million over 14 years. The company was placed into judicial reorganization on March 3. According to Ynsect's spokesperson, the group would face a cash-flow dead end by the end of March 2025. In April 2025, the company obtained an additional €10 million from its existing shareholders in order to maintain "production and customer deliveries, and discussions with potential investors." Emmanuel Pinto was appointed CEO. In June 2025, Ÿnsect announced the elimination of nearly 70% of its 200 jobs.
On December 1, 2025, the Evry commercial court ordered the company's judicial liquidation.