Fly feed firm raises $105 million

Abstract

AgriProtein Holdings, a U.K.-based start-up, has raised $105 million from undisclosed investors to scale up factories for raising black soldier fly larvae that feed on food waste. The company plans to build facilities in Africa, the Middle East, and Asia that will produce MagMeal, a protein product made from the larvae, to use as feed for fish, poultry, pigs, and pets.