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Insect breeding startup Ÿnsect raises $125 million

Dan Primack, author of Pro Rata

Ÿnsect, a French startup that breeds insects to become ingredients for pet food, fish food and plant fertilizers, raised $125 million in Series C funding.

The big picture: The company claims this deal will let it build the world's largest insect farm. It's also believed to be the largest-ever round for an agricultural technology startup outside of the U.S. The specific bet here in on mealworms, which Ÿnsect argues are more nutritious than the flies bred by its competitors. Astanor Ventures led, and was joined by Bpifrance, Talis Capital, Idinvest Partners, Finasucre and Compagnie du Bois Sauvage.

Go deeper: Eating insects could save the planet

Go deeper

Sara Fischer, author of Media Trends
38 mins ago - Technology

Facebook: Metaverse won't "move fast and break things"

Illustration: Aïda Amer/Axios

Facebook on Monday said it will invest $50 million over two years in global research and program partners to ensure its metaverse products "are developed responsibly."

Why it matters: "It's almost the opposite of that now long-abandoned slogan of 'move fast and break things,'" Facebook's VP of global affairs Nick Clegg told Axios in an interview at The Atlantic Festival Monday.

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Ina Fried, author of Login
48 mins ago - Technology

Facebook presses "pause" on Instagram Kids

Illustration: Annelise Capossela/Axios

Facebook's announcement Monday that it was "pausing development" on Instagram Kids did little to slow a wave of criticism of the project ahead of a Senate hearing Thursday.

Yes, but: There's an argument to be made for building kids' versions of popular apps, even if their adult versions are causing real-world harms.

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Joann Muller, author of What's Next
1 hour ago - Economy & Business

Ford's big plans to turbocharge the electric car industry in the U.S.

Illustration: Annelise Capossela/Axios

Ford Motor Company’s new $11 billion manufacturing plan, the biggest component of which will sit just outside Memphis, is part of a much bigger effort to put the U.S. at the center of the electric vehicle revolution, executive chairman Bill Ford says.

The big picture: Ford’s plans — for enormous facilities in both Tennessee and Kentucky, employing a combined 11,000 workers — are ambitious manufacturing efforts designed to minimize their environmental impact.

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