News
NextProtein raises $20.7 million Series B co-led by SWEN Capital and BII
Tunisian insect-protein producer NextProtein has closed a Series B of 18 million euros, about $20.7 million, co-led by SWEN Capital's Blue Ocean Fund and British International Investment.
By Propel Africa · 2025-11-04
WeeTracker reported on 4 November that NextProtein has raised a Series B of 18 million euros, about $20.7 million. The Blue Ocean Fund of SWEN Capital and British International Investment co-led the round. WeeTracker says it is British International Investment's first direct investment in Tunisia. NextProtein also secured an additional 4 million euros in debt financing.
What the company does
NextProtein is an agritech company based in Tunis and Paris. It turns Black Soldier Fly larvae into protein, oil and fertiliser, intended to replace traditional feeds such as fishmeal, and stresses cost efficiency and feedstock flexibility. The founders are Mohamed Gastli and Syrine Chaalala.
What the money is for
The funds will pay for the company's second and largest production facility in Tunisia. The Series B comprises 18 million euros of equity. The new site is designed to produce 12,000 tons of insect-based ingredients a year.
At a glance
- Company: NextProtein
- Raised: 18 million euros (about $20.7 million), plus 4 million euros in debt
- Round: Series B
- Co-leads: SWEN Capital (Blue Ocean Fund), British International Investment
- Founders: Mohamed Gastli, Syrine Chaalala
- Based in: Tunis and Paris
- Production base: Tunisia
- Key number: 12,000 tons of annual design capacity at the new facility