Finnish insect protein company Volare has raised €7.1 million through Springvest, with backing from new and existing investors, including Finnish venture capital firm Maki.vc. The funding will support the ramp-up of its first industrial-scale factory and preparations for a second facility.
- Founded in 2021 by Tuure Parviainen and Matti Tähtinen, Volare develops technology that converts food industry side streams into insect protein, oil and fertiliser using black soldier fly larvae. Its products are used in aquafeed, pet food and poultry feed.
- In 2025, the company secured €26 million from Maki.vc, Firstminute Capital and Springvest to build its first industrial-scale production plant, Volare 01, in Pori, Finland.
- The 10,000-square-metre facility, built inside a former newspaper printing plant, is designed to produce up to 5,000 tonnes of insect protein and 2,000 tonnes of insect oil annually.
Details of the deal
- With the fresh capital, Volare aims to ramp up production at Volare 01 and prepare for a second facility as it looks to replicate its production model across Europe and beyond. The company says a significant share of the first factory’s production capacity has already been sold, with offtake agreements in place with customers including aquafeed producer Skretting.
