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    HomeEcosystem NewsTunisian AgTech Startup NextProtein Pours $39.4 Million into Mexico, One Year After...

    Tunisian AgTech Startup NextProtein Pours $39.4 Million into Mexico, One Year After US Expansion

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    NextProtein LATAM, a French and Tunisia-born multinational specializing in the production of animal feed protein through insect farming, has announced an investment of 655 million pesos (approximately $39 million USD) in its first year of operations in Mexico. The company’s plans include the construction of five plants across the country and the creation of 400 direct jobs.

    This significant investment marks a major step forward for NextProtein’s expansion into Latin America, with Mexico chosen as the company’s regional hub. The company’s innovative technology utilizes organic waste, such as fruits and vegetables unfit for human consumption, to feed black soldier fly larvae, which are then processed into a high-protein animal feed ingredient.

    Key Highlights of NextProtein’s Investment in Mexico:

    • Investment: 655 million pesos (approximately $33 million USD) in the first year of operations
    • Job Creation: 400 direct jobs
    • Environmental Impact: Reutilization of 200 tons of organic waste annually from the Central de Abasto
    • Expansion Plans: Construction of five plants across Mexico

    NextProtein’s approach to animal feed production offers a sustainable alternative to traditional methods, addressing the challenges of resource scarcity and environmental impact. The company’s insect-based protein production requires significantly less land and water compared to conventional protein sources like soy, while also reducing greenhouse gas emissions.

    FDA Approval and Global Expansion

    In 2020, NextProtein received authorization from the European Union to sell its insect-based protein products, making it the first company outside the EU to gain such approval. This was followed by a landmark achievement in 2023 when the company secured clearance from the US Federal Food and Drug Administration (FDA) to market its products in the United States. These approvals have paved the way for NextProtein ’s global expansion, with Mexico serving as a key hub for its Latin American operations.

    Changing the Narrative in the Animal Feed Industry

    Founded in 2015 by Tunisian couple Syrine Chaalala and Mohamed Gastli, NextProtein’s innovative approach to animal feed production has garnered significant attention and investment. In 2020, the company raised $11.2 million in funding, the largest early-stage food technology funding in Tunisia to date. This investment has fueled the company’s growth and expansion plans, with the goal of scaling production to 100,000 tonnes per year by 2025.

    NextProtein’s entry into the Mexican market is expected to have a positive impact on the country’s agriculture and environment sectors. The company’s technology offers a sustainable solution to animal feed production, reducing the environmental footprint of the industry while creating jobs and promoting economic growth.

    NextProtein ’s investment in Mexico marks a significant step forward in the company’s global expansion and its mission to provide sustainable solutions to the challenges facing the animal feed industry. The company’s innovative technology and commitment to sustainability position it as a key player in shaping the future of animal feed production.

    Charles Rapulu Udoh has carved a niche at the forefront of Africa’s booming tech scene. With years of experience, Udoh has become a go-to expert for multi-million dollar deals in venture capital, private equity, and intellectual property across a vast landscape — from Delaware and New York to Singapore and South Africa. But his expertise extends beyond just the legalese. Udoh is also a corporate governance, data privacy, and tax whiz. An award-winning writer and researcher, he’s passionate about chronicling Africa’s startup story, cementing his position as a true pioneer in the field.

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