Tebrio, an eleven-year-old Spanish company that specializes in breeding and processing mealworms to produce sustainable products for animal feed, plant nutrition, and bio-industrial applications, raised a $32.4 million round. Investors included Banco de Santander, Sodical Instituto Financiero de Castilla y León, GCP, and CDTI Innvierte Economía Sostenible. PetfoodIndustry has more here.