Onego Bio, an Helsinki, Finland-based biotech company developing animal-free proteins such as egg white, raised EUR10M in Seed funding.
The round was led by Agronomics Ltd and Maki VC.
The company intends to use the funds to commercialize technology to produce egg white without chickens.
Led by CEO Maija Itkonen, Onego Bio is a cellular agriculture spin-off from VTT Technical Research Centre of Finland that uses a commercially-proven trichoderma technology to solve environmental problems associated with eggs, one of the world’s most used animal proteins. The company focuses on building its pilot production in Finland during the coming years and acquiring the necessary commercial approvals for its first product, animal-free bioalbumen powder. Onego is planning to market the product as a food ingredient for the bakery and confectionary industry, as well as a protein supplement for fitness products, and later enter the consumer market with its own branded products for baking and cooking.
FinSMEs
22/02/2022