Bulgaria's Nasekomo raises 8 mln euro for insect bioconversion plants

The financial injection will go towards the construction of an extensive network of cutting-edge insect bioconversion factories through a franchise model across Europe, with plans for other continents in the near future.

Following the inauguration of its industrial demonstration centre near Sofia, Nasekomo plans to open in Bulgaria a second production base in 2025 in partnership with a local entrepreneur.

"Our aim is to enable the positive impact of insects on the food chain in terms of nutrient availability, quality and sustainability. To achieve this, we strive for the highest level of standardisation and optimisation of processes in our upcoming network of franchised factories through genetics, automation, digitalisation, AI-based solutions and interconnected operations," Nasekomo co-founder and co-CEO Mark Bolar said.

With the objective of advancing the industrialisation of insect farming for high-quality protein, the company aims to meet the global demand for protein while simultaneously addressing challenges related to food access and sustainability in feed production.

Nasekomo signed last month a memorandum of understanding with Siemens Bulgaria to collaborate on expanding protein production from insects through AI-based technology capabilities and data analytics.

Founded in 2017, Nasekomo is focused on pioneering proprietary AI-assisted robotic technologies for feed production, delivering sustainably produced protein tailored to global agriculture and livestock needs.

($ = 0.9136 euro)