Sustainable foodtech startup ProNuvo raises $2M from the IFC

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Costa Rican insect-based animal feed startup ProNuvo raised $2M from the International Finance Corporation (IFC), a division of the World Bank Group that focuses exclusively on promoting the private sector in developing countries.

ProNuvo will use the funds to launch a new plant with an annual production capacity of 4,000 tons of its product.

ProNuvo farms Black Soldier Flies and feeds organic waste to their larvae, converting it into high-quality protein feed and fats for animals. PruNovo’s circular approach also transforms the residues into an organic fertilizer.

Founded in 2017, ProNuvo uses 10% of the land, 8% of the time, and 6% of the water demanded by traditional protein production.

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Matheus is a lawyer and a strategy consultant in Brazil. He has always been passionate about crating impact, be it through law, projects, deals, or innovation: he’s practiced Law as an attorney at Baker McKenzie, worked as an experienced hire consultant at McKinsey & Company and helped on the development of an early-stage startup.

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