Onego Bio

Our team participated at the Institute of Food Technologists (IFT) First earlier this month. We encountered many wonderful people and had great conversations about the future of food technology, sustainability, and the exciting advancements in precision fermentation. 🍽️🌱 Food Navigator USA just released a Soup-To-Nuts podcast episode where Elizabeth Crawford featured startups, including Onego Bio, from the event offering cutting-edge solutions to some of the most pressing challenges facing the food system. 🥚 "[…] we're all super excited and stoked about the fact that precision fermentation as a food technology moves forward. […] now we're really starting to come to that pivot point when companies start to commercialize and get those success stories, and everybody who we talked to here at IFT are agreeing that this just makes sense", said Paavo Salminen, our CBDO. Listen to the whole episode here: https://lnkd.in/dkysPvDJ #Bioalbumen® #sustainable #foodingredients

✨🌟💫 The hype continues 💫🌟✨ We are so thrilled about our recent milestones: securing $40M in series A funding earlier this year and $15M from the EIC Accelerator and additional series A investor. These funds will accelerate our journey to commercial scale and revolutionize the food industry with our animal-free egg protein, #Bioalbumen®. Read more about our recent funding news and industry impact in these featured articles 👇 💫 AgFunder News: Exclusive: Onego Bio nets $15.2m to advance animal-free egg protein production https://lnkd.in/eximtpsH 💫 Green Queen Media: Onego Bio Bags €14M in EU Accelerator & Additional Series A Funding for Animal-Free Egg Protein https://lnkd.in/eurivRRD 💫 Foovo: Onego Bio raises $24 million to accelerate production of precision-fermented egg white protein –– Onego Bioが約24億円を調達、精密発酵卵白タンパク質の生産を加速 https://lnkd.in/g8YZ-9eW 💫 vegconomist - the vegan business magazine: Onego Bio Secures $15.2M for Animal-Free Bio-Identical Egg Protein https://lnkd.in/dAnuQq39 💫 Food Ingredients First: Onego Bio nets €14M to commercialize fermented animal-free egg protein as demand soars https://lnkd.in/dhpX3w5U 💫 Startup Dope: Onego Bio Secures €14 Million to Scale Up Animal-Free Egg Protein Production https://lnkd.in/dRsx7YbS 💫 The Plant Base magazine: Onego Bio secures €14m in funding for precision fermentation https://lnkd.in/dtU54VCf Key highlights: 🚀 We are commercializing first in North America, where the market entry is faster. The latest funding will also fuel our go-to-market plan in the EU, including securing regulatory approval from EFSA. 🏆 Despite the high competition, Onego was one of the 68 companies to receive EIC funding, showing that EU recognises #precisionfermentation as a solution to future-proof the food industry. 🥚 Bioalbumen® addresses supply chain challenges with a fraction of the climate impact of conventional eggs. 📈 For innovative products to thrive in the EU, regulatory processes must keep pace. 🏭 Our first full-scale production unit boast a two-million-liter fermentation capacity, equivalent to protein produced by six million laying hens. #Bioalbumen® #sustainable #foodingredients Elaine Watson, Anay Mridul, Ayumi Sato, Siddharth Jeevagan, Rafaela S., Insha Naureen

We are rapidly scaling up and navigating regulatory requirements in the US and soon also in Europe 🚀 In the current funding environment, our recent $40M series A round and the latest $15M from the EIC funding and additional series A investor are a strong vote of confidence in Onego Bio's ability to solve the massive supply chain issues facing eggs globally. "Both of these fundings will skyrocket us to full commercial scale, and we are excited to start the commercial journey in the coming months in the united states as we finalize our regulatory approval process and start supplying our great clientele" – Paavo Salminen, the chief business development officer of Onego Bio. Fermentation using fungi has been used for over thousands of years, and today we can harness this fungi to produce the most functional protein in egg white with a protein digestibility-corrected amino acid score (PDCAAS) of 1.0 and a whopping 90 grams of protein per 100 grams. The support from our investors and partners accelerates our mission to offer sustainable and innovative solutions to the global challenges in the food industry. Read the whole Food Navigator USA article here: https://lnkd.in/dq5W5Wfu Elizabeth Crawford #Bioalbumen® #sustainable #foodingredients

We scooped $15.2M / €14M new funding from the European Innovation Council (EIC) fund and additional Series A investors to advance animal-free egg protein production!! 🥚 Onego is at full speed in commercializing in North America, where the regulatory landscape allows a faster market entry, and the newly gained EIC funding will also fuel our go-to-market in the EU. Great news that European Innovation Council and SMEs Executive Agency (EISMEA) has identified #precisionfermentation as a breakthrough technology and game-changing innovation having a major impact to improve the sustainability, efficiency, and resilience of the food supply chains. We're currently working with leading food companies in baked goods, confectionery, snacks, sauces, pasta, and meat alternatives, and scaling up production with co-manufacturers while finalizing plans for our in-house manufacturing. A single Onego full scale manufacturing unit will boast a two-million-liter fermentation capacity, effectively delivering the egg protein equivalent of six million laying hens. Read more here: Our press release: https://lnkd.in/eMYd73HM AgFunder interview by Elaine Watson: https://lnkd.in/eximtpsH #Bioalbumen® #sustainableprotein #animalfree #foodingredients

We scooped $15.2M / €14M new funding from the European Innovation Council (EIC) fund and additional Series A investors to advance animal-free egg protein production!! 🥚 Onego is at full speed in commercializing in North America, where the regulatory landscape allows a faster market entry, and the newly gained EIC funding will also fuel our go-to-market in the EU. Great news that European Innovation Council and SMEs Executive Agency (EISMEA) has identified #precisionfermentation as a breakthrough technology and game-changing innovation having a major impact to improve the sustainability, efficiency, and resilience of the food supply chains. We're currently working with leading food companies in baked goods, confectionery, snacks, sauces, pasta, and meat alternatives, and scaling up production with co-manufacturers while finalizing plans for our in-house manufacturing. A single Onego full scale manufacturing unit will boast a two-million-liter fermentation capacity, effectively delivering the egg protein equivalent of six million laying hens. Read more here: Our press release: https://lnkd.in/eMYd73HM AgFunder interview by Elaine Watson: https://lnkd.in/eximtpsH #Bioalbumen® #sustainableprotein #animalfree #foodingredients

"By the first quarter of 2024, fermentation-derived protein startups had already raised $228M, dwarfing plant-based investments ($58M). And this is before you include later rounds like meati™’s $100M Series C, Onego Bio’s $40M Series A, and Enifer’s $16M Series B. In Europe, too, fermentation companies witnessed a 12-fold increase in financing since 2020 to reach $76M last year". #PrecisionFermentation has been used for decades in the pharmaceutical industry, and it’s now transitioning to numerous fields like food – with the potential to accelerate innovation and decarbonization, and drive competitive advantage. The potential of this technology is also shown in the growing investment in the precision fermentation sector! Read the article here: https://lnkd.in/ewms7uv5 #OnegoBio #Bioalbumen® #futureoffood #sustainable #foodingredients

We’re still so excited to be named as one of the finalists of Pascual's #Mylkcubator program! 🎉 The initiative by Pascual Innoventures supports groundbreaking startups transforming the food value chain. This edition goes beyond dairy to explore cellular agriculture for alternative food production. We’re thrilled to be among pioneering companies like Innomy, Nosh.bio, CULTZYME , and California Cultured Inc. Looking forward to collaborating with the Pascual team to innovate and future-proof our food system! 💥 #Bioalbumen® #sustainable #foodingredients

Thank you Elizabeth Crawford for the highlight! ☀️ We've already had some fantastic encounters and we will be at Institute of Food Technologists (IFT) until July 17. Come by and visit our booth #4474AI Startup Pavilion 🙌 Follow this link to the article: https://lnkd.in/e3NhdWT7 #IFTFIRST #Bioalbumen® #sustainable #foodingredients Halle Redfearn Paavo Salminen

Exciting news – we are looking for a Food Scientist to join our team in San Diego, CA! 🧑🍳🌴🇺🇸 Are you interested in shaping the future of food by producing new sustainable food ingredients with cutting edge technology and with superb colleagues who are top experts in their field? Onego Bio might be just the place for you 🙌 In this position, you will play an essential role in developing, planning, and carrying out research projects and contribute towards our greater goal of providing animal-free egg protein to the world. Ultimately, we aim to be part of building a sustainable food system with the help of our partners throughout the world. Towards this goal, our US R&D team will develop and analyze products utilizing Bioalbumen® as a highly functional ingredient in a wide range of food applications. Check out the full description below and send your CV/resume and cover letter by the 26th of July. We will process applications as they come in and fill the position as soon as we find the right candidate. Follow this link to the job ad: https://lnkd.in/dcTfdWTq

Come meet us next week at the IFT FIRST: Annual Event and Expo in July 14-17 📢 You can spot us at our booth #4474AI Startup Pavilion – come and say hi! See you there! 👋 Check out the event: https://www.iftevent.org/ Institute of Food Technologists (IFT) #IFTFIRST #Bioalbumen® #sustainable #foodingredients