Volare closes €26m financing package for industrial insect-protein production
The May 2025 package combines equity, loans and public funding to build Volare 01 and advance its production technology.
Volare announced a €26 million financing package on 27 May 2025 to build its first industrial-scale insect-protein plant and develop its technology. The package combines equity, mezzanine and senior loans, and public funding.
Named backers and financing partners included Maki.vc, firstminute capital, the Finnish Climate Fund, Finnvera and Norion Bank, with financing also arranged through Springvest. The announcement did not allocate the total between the individual instruments or participants.
The Finnish company converts food-industry side streams into protein, oil and fertiliser using black soldier fly larvae. The planned Volare 01 plant was intended to expand production for aquafeed, pet food and poultry feed, supported by an offtake agreement with Skretting and a rainbow-trout collaboration in Finland.
Use of funds
Build Volare01 industrial insect-protein plant
Develop production technology