Bulgarian Startup Nasekomo Raises €4M To Turn More Organic Waste Into Protein and Scale Environmental Impact
Summary
This is the biggest publicly announced early-stage round in agtech in Emerging Europe, in which Bulgarian VCs Morningside Hill and New Vision 3 participate with a total of €1.5M, and are joined by another around 20 international private investors. “We’ll use the current investment to further scale our insect breeding and increase our protein production performance and efficiency implementing robotized technology,” tells us Xavier Marceneac, who co-founded Nasekomo together with Olga Marcenac and Marc Bolard, three years ago, after the successful exit of BPO company CallPoint to Telus International. Simply put, the specially bred Black Soldier flies are fed with organic waste and then turned into different products used in the pet food, and potentially cosmetics industry. In addition to its sustainable development impact, the business provides a great investment opportunity,” says Pavel Velkov, Managing Partner at the lead investor Morningside Hill Ventures. By integrating robotization into insect farming, we are putting Bulgaria ahead on the sustainable biotech innovation map in the region and globally,” says Yordan Zarev, Partner at NV3, in an official announcement.