# FarmInsect

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/farminsect

- Industry: Agribusiness
- Headquarters: Germany
- Website: www.farminsect.eu
- Total disclosed funding: $9M
- Latest round: Series A (Jul 13, 2023)
- Investors on record: 13

## About

Based in Germany, FarmInsect GmbH operates as a pioneering company focused on sustainable insect farming solutions, integrating automated systems to enhance agricultural practices across Europe.FarmInsect GmbH specializes in automated insect farming systems designed to transform organic waste into sustainable protein sources. Founded in 2019 in Germany, the company has undergone strategic developments to optimize its operations, significantly expanding its market presence. Wolfgang Westermeier is the founder of the company, and Thomas Kuehn currently serves as CEO. The company raised EUR 8 million in its Series A funding round on July 13, 2023, led by Sandwater, with participation from various investors including Bayern Kapital and Greyhound Creek Ventures UG. The total amount raised by FarmInsect is EUR 8 million, with a current valuation of EUR 21.549 million.FarmInsect's primary product offerings revolve around innovative automated insect farming systems that integrate insects as a sustainable protein source within agricultural operations. The company's modular farming units enable farmers to cultivate larvae efficiently, which serve as a protein source for livestock and the pet food industry. The system operates on a subscription model, where farmers receive weekly deliveries of young larvae, facilitating a continuous breeding and harvesting cycle. This model optimizes local agricultural resources by utilizing organic waste from farms, thereby supporting a circular economy. FarmInsect primarily serves agricultural markets across Europe, enhancing sustainability and providing value to both environmental and economic factors within the sector.FarmInsect generates revenue through direct transactions with farmers and partnerships with feed manufacturers. The company sells its automated insect farming systems, which include comprehensive startup services, training, and setup of the FarmInsect Cloud system, allowing farmers to operate the units remotely. Revenue also comes from the sale of harvested insects, which are processed and marketed as a sustainable protein source for agricultural and pet food industries. This B2B structure fosters collaboration between FarmInsect and its clients, creating a robust ecosystem around insect farming. Specific pricing details are structured around the scale of the systems and subscription plans provided to farmers, aimed at maximizing efficiency and output.FarmInsect GmbH plans to leverage the EUR 8 million raised in its Series A funding round to support its growth initiatives. The company is developing new product offerings and expanding its reach into new agricultural markets across Europe. The funding will facilitate the refinement of their automated farming systems and enhance the operational capabilities of their existing units. With a focus on sustainability and efficiency, FarmInsect aims to establish a stronger presence in the insect farming sector, further integrating their solutions into agricultural practices by the end of 2024.

## Funding rounds

- Series A, Jul 13, 2023, $9M — High-Tech Gruenderfonds, Bayern Kapital, UnternehmerTUM Initiative For Industrial Innovators, Minderoo Foundation, Genea Invest, Sandwater, JOKALOU Unternehmensbeteiligungen GmbH, fme Unternehmensbeteiligungen GmbH, joge UG, RoxBrox GmbH, Greyhound Creek Ventures UG
- Seed, Aug 17, 2021 — High-Tech Gruenderfonds, Bayern Kapital, BayStartUP, UnternehmerTUM Initiative For Industrial Innovators, Genea Invest, 5X Ventures

## Investors

- High-Tech Gruenderfonds (https://capitalatlas.ai/funds/high-tech-gruenderfonds) — Seed, Series A
- Bayern Kapital (https://capitalatlas.ai/funds/bayern-kapital) — Seed, Series A
- BayStartUP (https://capitalatlas.ai/funds/baystartup) — Seed
- UnternehmerTUM Initiative For Industrial Innovators — Seed, Series A
- Genea Invest (https://capitalatlas.ai/funds/genea-invest) — Seed, Series A
- 5X Ventures (https://capitalatlas.ai/funds/5x-ventures) — Seed
- Minderoo Foundation — Series A
- Sandwater (https://capitalatlas.ai/funds/sandwater) — Series A
- JOKALOU Unternehmensbeteiligungen GmbH — Series A
- fme Unternehmensbeteiligungen GmbH — Series A
- joge UG — Series A
- RoxBrox GmbH — Series A
- Greyhound Creek Ventures UG — Series A