These are insect player Nasekomo’s plans after €8 million boost

Nasekomo, a black soldier fly (BSF) manufacturer that generates 80% of its revenue from the pet food market, aims to establish a network of 3 franchisee facilities. Each facility is expected to convert 100,000 tons of organic by-products into 25,000 tons of insect protein annually.

The first plant will be located in Bulgaria and begin operations in 2026. The manufacturer already has a production unit in the country, which is one of the largest of its kind in Europe.

In January 2024, Nasekomo secured €8 million ($8.9M) in a funding round led by private equity fund Invenio Partners.

The company claims to be the largest manufacturer of high-quality protein products from the industrial rearing of BSF in Central and Eastern Europe.

R&D investments

“Our company is focused on developing a network of bioconversion factories across Europe and beyond,” Co-Founder Marc Bolard tells GlobalPETS.

This expansion is supported by partnerships with major players like Siemens, which is helping Nasekomo integrate advanced AI-driven technologies and automation into its production processes.

The Sofia-based insect company has also partnered with French firm Groupe Grimaud’s Fly Genetics to improve key traits of BSF, such as growth rate and efficiency.

Additionally, Nasekomo plans to make significant reinvestments in research and development to optimize production, digitalize processes and explore new product applications.

Attractive markets

According to Bolard, the demand for insect protein is expected to surge from 120,000 tons to 500,000 million tons by 2030. “This demand is a motivating reason behind our decision to scale up,” he states.

The European region is a priority for the insect company as it presents a significant market opportunity due to the increasing popularity and demand for organic, natural and sustainable pet food products.

Nasekomo also recognizes North America as a “particularly attractive” market due to its rising consumer demand for natural, premium and super-premium pet foods.

Furthermore, the company is “closely monitoring” the Asian market due to the rapid expansion of the local pet food industry.