Insect protein firm MealFood Europe receives 50m euros in funding

MealFood Europe – a Spain-based producer of insects for animal feed and human consumption – has received €50 million in a Series A1 funding round co-led by Caixa Capital Risc and the Spanish Centre for Industrial Technological Development (CDTI).

Caixa Capital Risc and the CDTI will acquire a 40% interest in the mealworm ag-tech start-up as a result of the investment.

Founded in 2014, MealFood Europe produces a range of mealworm-based protein products such as mealworm powder. The company’s main ambition is to create a sustainable, low-emission and cost-efficient protein source for both animals and consumers.

Figures provided by MealFood Europe claim that global demand for protein is expected to grow by 250 million tonnes in the next 15 years. According to a statement from the firm, this investment will help MealFood scale up its production capacity to meet this growing global demand for sustainable protein sources and other mealworm products.

Adriana Casillas, co-founder and CEO of MealFood Europe, said: “As the global population continues growing, along with the burgeoning market for animal protein, insects are set to become the world´s most sustainable source of protein of the future.”