Another blow to the plans of the globalist elites. This time, despite millions invested, Europe's largest insect farm, Ÿnsect, has declared itself insolvent and entered into judicial liquidation, putting an end to one of the most ambitious—and costly—projects in the continent's alternative food industry.
The fall of the French startup marks the definitive collapse of a company that raised more than $600 million in public and private funding, supported by institutional investors, impact funds, and international celebrities. Among its backers was even the FootPrint Coalition, promoted by actor Robert Downey Jr., who went so far as to promote the company on American television during the 2021 Super Bowl.
However, after years of rapid expansion and promises to transform the global food system, Ÿnsect failed to build a profitable business model. Its flagship proposal—producing protein from insects as a sustainable alternative to soy or fishmeal—clashed head-on with the economic reality of the feed market, which is dominated almost exclusively by price.
The fall of the French startup marks the definitive collapse of a company that raised more than $600 million in public and private funding, supported by institutional investors, impact funds, and international celebrities. Among its backers was even the FootPrint Coalition, promoted by actor Robert Downey Jr., who went so far as to promote the company on American television during the 2021 Super Bowl.
However, after years of rapid expansion and promises to transform the global food system, Ÿnsect failed to build a profitable business model. Its flagship proposal—producing protein from insects as a sustainable alternative to soy or fishmeal—clashed head-on with the economic reality of the feed market, which is dominated almost exclusively by price.
Translated with DeepL.com (free version)