1 The EIC Accelerator Project
EIC Accelerator Program Overview
The EIC Accelerator program, part of the European Innovation Council (EIC), aims to support small and medium-sized enterprises (SMEs) and startups in developing and scaling high-impact innovations. It focuses on deep tech and breakthrough technologies that address global challenges and drive economic growth within the European Union. The program offers a unique blend of funding opportunities, combining grants and equity financing to help innovative companies commercialize their products and services effectively.
Funding Structure
The EIC Accelerator provides blended financing, which consists of both grants and equity investments. The grant component can amount to up to €2.5 million, serving as non-dilutive funding that supports research and development, prototype development, and market entry activities. This grant is particularly beneficial for companies looking to validate their technology and establish a market presence without sacrificing ownership.
Additionally, the equity component allows for investments of up to €15 million until 2024 and up to €10 million since 2025. This equity financing is crucial for scaling operations and facilitating growth, as it provides companies with the necessary capital to expand their reach and capabilities. The EIC Accelerator's investment is typically offered in the form of convertible loans or equity stakes, allowing the EIC to share in the potential upside of successful innovations.
Purpose in the European DeepTech and Startup Ecosystem
The EIC Accelerator plays a vital role in the European deep tech and startup ecosystem by bridging the funding gap often experienced by innovative companies. It provides a structured pathway for startups to access funding, mentorship, and networking opportunities that can propel their growth. The program emphasizes sustainability, digital transformation, and health, aligning with European priorities to foster innovation that contributes to societal and environmental goals.
By offering substantial financial support and resources, the EIC Accelerator encourages startups to attract additional private investment. The program's credibility and backing can enhance a company's profile, making it more appealing to private investors and venture capitalists, further promoting a vibrant innovation landscape in Europe.
Case Study: FarmInsect GmbH and the FarmInsect Project
Company Overview
FarmInsect GmbH, based in Germany, emerged as a winner of the EIC Accelerator for its innovative project named FarmInsect. The company specializes in automated insect farming solutions, enabling farmers to produce their own sustainable insect protein feed.
Project Summary
The FarmInsect project focuses on creating automated turnkey insect rearing farms. This technology allows farmers to cultivate insects efficiently and sustainably, addressing the growing demand for protein sources in animal feed. By leveraging automation, the FarmInsect system minimizes labor costs and maximizes output, making insect farming a viable option for agricultural producers.
Technology Basics and Background
The technology behind FarmInsect is rooted in biotechnology and automation. Insects, particularly black soldier flies, are recognized for their ability to convert organic waste into high-quality protein. This process not only mitigates waste management issues but also produces a sustainable feed alternative that can reduce the environmental impact of traditional livestock farming.
The FarmInsect system integrates various automated processes, including temperature control, humidity management, and feeding systems, to optimize the rearing environment for insects. The technology is designed to be user-friendly, allowing farmers with minimal technical expertise to operate the systems effectively. Furthermore, the modular nature of the farm setup enables scalability, accommodating different farming capacities based on local needs.
By participating in the EIC Accelerator, FarmInsect GmbH has received critical funding and support, enabling it to refine its technology and expand its market reach. The EIC's backing not only enhances the company's credibility but also positions it as a leader in sustainable agricultural practices, contributing to the broader goal of achieving food security and environmental sustainability in Europe.
In summary, the EIC Accelerator program stands as a cornerstone of support for innovative companies like FarmInsect GmbH, enabling them to bring transformative technologies to market and significantly impact the agricultural sector.
2 The Funding Rounds
FarmInsect GmbH: Financing and Funding Events Since EIC Accelerator Win
FarmInsect GmbH, a German agritech company specializing in decentralized insect farming systems for animal feed, has experienced significant funding activity and investor interest since submitting its winning EIC Accelerator application on June 15, 2022.
Financing Raised & Funding Rounds
Timing & Amount of Funding Rounds
| Date | Round | Amount Raised | Main Purpose |
|---|---|---|---|
| June/Dec 2022 | EIC Accelerator Grant + Equity | €7.5M (€2.5M grant + €5M equity) | Facility expansion; product development |
| October 23, 2023 | Series A | €8M | Commercial scaling; sales expansion; production ramp |
Investor Information
The following investors have participated in recent rounds:
- Series A Lead Investor:
- Sandwater (Oslo-based impact fund)
- Other Institutional Investors:
- Bayern Kapital’s Wachstumsfonds Bayern/Growth Fund
- Minderoo Foundation Strategic Impact Fund
- European Innovation Council Fund (EIC Fund)
- High-Tech Gründerfonds (HTGF)
- UnternehmerTUM Funding for Innovators
- Additional Supporters:
Company Valuation
Dealroom.co estimated FarmInsect’s enterprise valuation between $35–53 million as of October 2023. There are no public reports indicating a change or update since then.
Exit Events: IPOs or Acquisitions
As of May 1, 2025:
- There is no public record or announcement that FarmInsect has undergone an exit event such as an IPO or acquisition.
- The company remains privately held with ongoing growth financing activity.
Summary Table
| Event | Date | Amount | Investors Involved |
|---|---|---|---|
| Seed Financing | Aug.17,2021 | Seven figures (€) | HTGF, Bayern Kapital, others |
| EIC Accelerator | Jun/Dec.2022 | €7.5M | EU/EIC |
| Series A | Oct.23,2023 | €8M | Sandwater (lead), Minderoo Foundation SIF,EIC Fund,Bayern Kapital |
No exits have been reported up to the present date.
Sources
- FarmInsect company information – Space Tech Dealroom
- EU Funding – EIC Accelerator Announcement by FarmInsect
- FarmInsect company profile – InvestNY.org
- FarmInsect Raises in €8M Series A Financing – FinSMEs
- FarmInsect Series A Round Announcement
- HTGF Investment Announcement
- FarmInsect Dealroom Profile with Valuation Estimate
- Heuking Legal Advisory Release on Series A Round
3 The Press Releases
FarmInsect GmbH: Post-EIC Accelerator Developments and Strategic Growth Since winning EIC Accelerator funding in June 2022, FarmInsect GmbH has advanced its mission to revolutionize sustainable protein production through decentralized black soldier fly (BSF) farming. Below are key developments from press releases, partnerships, and operational milestones:Strategic Partnerships
- AGRAVIS Collaboration: Announced in May 2024, the partnership with AGRAVIS Raiffeisen AG provides farmers with modular insect-farming systems. The collaboration combines FarmInsect’s automated BSF-rearing technology with AGRAVIS’s expertise in feed optimization and market access.
- Integrated Solutions: The partnership enables smaller-scale farmers to adopt insect fattening using residual agricultural streams, reducing reliance on imported protein sources like fishmeal.
Technology Advancements
- Modular Farming Systems: FarmInsect offers scalable, automated BSF breeding units that integrate into existing farm infrastructure. These systems use proprietary cloud-based monitoring to optimize larval growth conditions and feed efficiency.
- Closed-Loop Production: The company’s model converts organic waste into high-protein larvae for animal feed and nutrient-rich fertilizer as a byproduct.
Operational Milestones
- Series A Funding: Secured €8 million in a Series A round (exact date unspecified), enabling further R&D and market expansion.
- Leadership Update: Jens Thorsen was appointed Chairman of the Board in December 2024, signaling strengthened governance amid scaling efforts.
Market Positioning
FarmInsect targets livestock farmers seeking cost-effective alternatives to conventional feeds. Their BSF larvae reduce dependency on global supply chains while improving animal health through natural immune-boosting peptides. Competitors include Protix Biosystems (Netherlands) and InnovaFeed (France), but FarmInsect differentiates through farmer-centric modular solutions.Sources Used:
-Latest News | EIC Project | AGRAVIS Partnership | Series A Round | Black Soldier Fly Market Report4 The Technology Advancements
Current Capabilities of FarmInsect GmbH
FarmInsect GmbH, a Munich-based agritech startup, specializes in the decentralized production of insects as sustainable feed. The company offers an end-to-end solution that allows farmers to establish modular insect farms on-site, utilizing black soldier fly larvae as a protein-rich alternative to traditional feed sources like soy and fishmeal. This approach not only reduces environmental impact by minimizing deforestation and overfishing but also provides cost savings for farmers by leveraging local waste streams as feed for the larvae.
Advancements Since EIC Accelerator Funding
Although FarmInsect GmbH received funding from various sources, including the EIC Fund in their Series A round, there is no specific mention of advancements directly tied to the June 2022 EIC Accelerator funding. However, since then, the company has successfully completed an oversubscribed Series A financing round, raising €8 million in October 2023. This funding has supported the commercial scale-up of their technology and further R&D activities. FarmInsect has also partnered with AGRAVIS to offer modular decentralized insect fattening systems, providing farmers with more flexible options for entering the insect farming sector.
Technological Improvements and Market Demonstration
FarmInsect has developed an automated fattening system that enables the efficient production of protein-rich feed from insect larvae directly on farms. This system utilizes waste materials and produces compost as a by-product, which can be used as fertilizer or in biogas production. While specific new features or technological improvements since the funding are not detailed, the company's focus on expanding breeding lines and improving its technology indicates ongoing innovation.
Patents and Scientific Publications
There is no published information on new patents filed or scientific studies released by FarmInsect GmbH since receiving the EIC Accelerator funding. However, the company's ongoing R&D activities suggest a commitment to advancing their technology and sustainable feed solutions.
Conclusion
FarmInsect GmbH continues to play a significant role in the sustainable agriculture sector by offering a decentralized, environmentally friendly insect farming solution. Their recent funding and partnerships have positioned the company for further growth and technological improvement in the field of insect-based feed production.
Sources: - Larvae rearing adds a new revenue stream for farmers in Germany
- FarmInsect
- Series A FarmInsect - High-Tech Gründerfonds
- Munich-based agtech FarmInsect bags €8 million to manufacture protein-rich animal feed from insects
- Germany's FarmInsect bags €8M to offer sustainable alternative to soy and fishmeal
- FarmInsect's €8M funding boosts scale-up of insect-based livestock feed technology
- Germany's FarmInsect bites €8M funding to produce protein-rich insect-based animal feed
- German companies team up for insect farming
5 The Partnerships and Customers
FarmInsect GmbH: Strategic Partnerships and Market Positioning
FarmInsect GmbH, a pioneering German company in the insect farming sector, has been actively engaging in strategic partnerships and customer relationships since receiving the EIC Accelerator funding in June 2022. This engagement is crucial for its market positioning and technology advancements.
Partnerships and Customers
- Strategic Partnerships:
- AGRAVIS Raiffeisen AG: FarmInsect has partnered with AGRAVIS, a prominent agricultural trading company, to offer decentralized insect fattening systems. This collaboration allows farmers to integrate modular systems into existing infrastructures, providing flexibility in system size and investment.
- Investors and Financial Support:
- The company has secured significant financial backing from investors such as Sandwater, Bayern Kapital, Minderoo Foundation, and the European Innovation Council Fund, as part of an oversubscribed €8 million Series A funding round.
- Existing Investors: High-Tech Gründerfonds (HTGF) and UnternehmerTUM Funding for Innovators have continued their support by participating in the recent funding round.
Nature of New Relationships
These partnerships and investments aim to bolster FarmInsect's decentralized insect farming technology, enabling farmers to produce sustainable, protein-rich animal feed locally. The strategic alliance with AGRAVIS expands FarmInsect's reach in the agricultural sector by providing modular solutions that are adaptable to various farm sizes.
Positioning in the Market
FarmInsect's approach focuses on sustainability by utilizing local waste streams and reducing reliance on environmentally intensive feed sources like soy and fishmeal. This positions FarmInsect as a leader in sustainable agriculture, offering farmers up to 30% savings on feed costs while promoting circular economy practices.
Technology Advancements and Scaling
The partnerships and funding will facilitate technology advancements by supporting the development of more efficient insect farming systems. Additionally, these resources will enable FarmInsect to scale its operations commercially, further solidifying its market presence and contributing to the broader adoption of sustainable agricultural practices.
Sources
- FarmInsect Series A Funding
- FarmInsect Series A Round €8M
- Munich-based Agtech FarmInsect
- German Companies Team Up for Insect Farming
- Bayern Kapital Invests Again in FarmInsect
- New Investment Announced into FarmInsect
6 The Hiring and Company Growth
FarmInsect GmbH: Scaling Insect Protein Production Through Strategic Growth Since securing EIC Accelerator funding in June 2022, FarmInsect has accelerated its mission to decentralize insect farming across Europe. While specific headcount figures remain undisclosed, the company’s growth trajectory and strategic partnerships provide insights into its team dynamics and hiring priorities.Team Growth and Hiring
- Series B Fundraising: FarmInsect is actively raising a €30M Series B round (target close: June 2025) to scale production capabilities and expand its workforce. This follows an oversubscribed €8M Series A round in 2023–2024, which supported commercialization of its modular insect-rearing systems.
- Strategic Partnerships: The collaboration with AGRAVIS Raiffeisen AG (announced mid-2024) emphasizes technical support for farmers adopting smaller-scale systems, suggesting increased roles in customer success, R&D, and logistics.
- Key Positions: Recent growth likely includes engineers for IoT-enabled farming systems, entomologists optimizing black soldier fly genetics, and operations specialists to manage decentralized production sites.
Scaling Impact
New hires enable FarmInsect to address two critical challenges:Leadership Continuity
No management changes are reported post-EIC funding. The leadership team remains focused on enhancing genetic strains of black soldier flies and refining IoT-driven breeding protocols—a strategy validated by their inclusion in the global Black Soldier Fly Market Report (April 2025).Sources
7 The Media Features and Publications
FarmInsect GmbH: Media Presence and Public Engagement Since EIC Accelerator FundingFarmInsect GmbH, a German innovator in sustainable insect protein production, gained significant attention following its €7.5 million EIC Accelerator win in late 2022. The company specializes in decentralized Black Soldier Fly larvae farming, aiming to replace soy and fishmeal in animal feed across Europe.
Media Features and Publications
- European Commission Coverage: FarmInsect’s modular insect-rearing systems were highlighted by the EU as a key innovation addressing food sustainability challenges.
- Easy Engineering: The outlet detailed FarmInsect’s €8 million funding round in October 2023, emphasizing its semi-automated larvae fattening technology designed for integration into conventional agriculture.
- Company Blog: FarmInsect’s website outlines its EIC Accelerator grant (€2.5M grant + €5M equity) to expand breeding programs and regional production facilities.
Podcasts and Interviews
No publicly available podcasts or interviews featuring FarmInsect’s team were identified through the provided sources. However, agritech-focused podcasts like Let's Talk Farm to Fork (which has covered alternative protein innovators) may provide future opportunities for exposure.Conferences and Events
While specific conference participations are not documented, the company’s focus on scaling operations suggests involvement in agricultural tech expos such as Anuga FoodTec or EuroTier, though no direct evidence exists in available materials.Post-Funding Developments
In October 2023, FarmInsect secured an additional €8 million from investors including the European Innovation Council Fund to accelerate R&D efforts for optimizing feed conversion rates using grass silage substrates.Sources
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