Wie die Realität Ÿnsect, das französische Startup, das über 600 Millionen US-Dollar für die Insektenzucht gesammelt hatte, zugrunde richtete
How reality crushed Ÿnsect, the French startup that had raised over $600M for insect farming
Wie die Realität Ÿnsect, das französische Startup, das über 600 Millionen US-Dollar für die Insektenzucht gesammelt hatte, zugrunde richtete
How reality crushed Ÿnsect, the French startup that had raised over $600M for insect farming
10 Kommentare
Too bad, they couldn’t wing it, I guess
It wasnt for human consumption.
It failed because the feed for the insects is too difficult to get.
These guys were big. They were even in my intermediate French class’s curriculum.
600m$ raise for a French company is huge right ?
>So how did a company with such meager revenue raise over $600 million? The answer wasn’t hype-driven crossover funds paying ambitious multiples during the 2021 funding frenzy. Instead, Ÿnsect attracted impact-focused investors like Astanor Ventures and public investment bank Bpifrance that bought into a compelling sustainability vision.
I’m not sure what the entirety of „hype-driven crossover funds paying ambitious multiples“ means. But it sounds a lot like the answer was hype-driven funds.
Their story hyped up a lot of sustainability investors. They raised $600 million without a proven business case. That pushed them to spend big money on their giga-factory for that unproven business case. Then their big idea didn’t have legs and their big investment ate up the $600 million faster than they could pivot.
Seems pretty clearly a story of hype-driven investment eating up money that could have done more good with some judicious caution.
Is the concept of starting small to prove viability just alien to some people?
One of the main appeals of farming bugs should be that it requires less capital investment than traditional livestock. In what world does it make sense to go balls to the wall with half a billion out of the gate?
Yes we should definitely… grow bugs instead of…. Growing more plants….
it was always a grift
Their product was Insect Farming? What happened? Too many bugs?
Ba dum tssssh.
Oh I get it, investors got antsy?
…
Now, now, Bee-haaave….!
Sounds like they hoped things will work just by throwing money at it?