Ÿnsect, the insect farming startup that gained fame with Robert Downey Jr.s endorsement, has filed for bankruptcy due to insolvency. The companys ambitious plans to produce insect protein for animal feed, pet food, and human consumption faltered, with losses reaching nearly eighty million euros in 2023. Despite raising over six hundred million dollars, the commodity-driven animal feed market didnt support premium prices for eco-friendly bugs. The companys massive giga-factory in France and pivot to pet food were not enough to save it, leaving the insect protein dream alive but cautionary.
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