Uusimaa-based biotech startup Volare Solutions, which develops sustainable protein from black soldier flies, has secured €26 million from Maki.vc, Firstminute Capital, and Springvest.
- Established in 2021 by Tuure Parviainen and Matti Tähtinen, Volare Solutions leverages the black soldier fly (Hermetia illucens), one of nature’s most efficient bioreactors, to convert food industry side streams into high-quality protein, oil, and fertilizer used in feed, pet food, agriculture, and chemical applications.
- Volare's exclusive, zero-waste, fossil-free process upcycles these low-value byproducts instead of incinerating them. This innovative approach yields emissions that are 4–8 times lower than those generated by conventional protein sources like soy.
Details of the deal
- The €26 million round was backed by Maki.vc, Firstminute Capital, Springvest, The Finnish Climate Fund, Finnvera, Norion Bank, and other financial institutions through a mix of equity, loans, and public funding.
- Volare plans to build its first industrial-scale production plant, Volare 01, in Finland in 2025. The facility will use black soldier flies to convert food industry byproducts into sustainable protein, oil, and fertilizer. Designed to be the world’s most efficient protein factory, it will produce the equivalent protein of 200 million Baltic herrings, around 18% of Finland’s annual fish catch.
