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- Finland's Onego Bio raises US$40 million to scale up animal-free egg production
Finland's Onego Bio raises US$40 million to scale up animal-free egg production
Plus, Vow Foods secures approval for cultivated quail product, and Givaudan, MISTA, and Bühler celebrate new extrusion hub at MISTA in San Francisco
Last week may have been another short one, but there was no shortage in fantastic news stories being sent into our news-desk!
In funding news, there was a huge cash injection for a precision fermentation specialist in Finland that is poised to disrupt the US$330 billion egg market! Eggs are an essential part of food businesses, but with the egg market constantly fluctuating due to avian flu and increased demand for cage-free, manufacturers are challenged to find a viable replacement with a consistent, reliable, and safe supply of high-quality protein at an accessible price. This company seems to have cracked it!
Equally innovative, a new AI-driven company specializing in molecular farming for the food sector has scooped investment from Israel’s The Kitchen FoodTech Hub to develop casein, the main protein found in milk and is highly required in the food industry, primarily for cheese production, before looking at other proteins. Meanwhile, a spin-off from Wageningen University & Research and Startlife Alumni has announced €850,000 in funding to strengthen its team, scale production, and expand the market entry of 'Oleocream', its natural, healthy and sustainable cream solution.
And how could we ignore the huge news of an Australian food-tech company unveiling 'Quailia', now available now in Singapore. The company has achieved novel food approval in less than five years with a funding of US$56 million, around half the time and less than 10% of the capital raised compared to its competitors that have reached market! Bonza!
As usual, there’s plenty more to read on our website, with stories uploaded daily, plus columnists, thought-leadership, deep dive articles and Innovation Insights. Check them out and let us know what you think!
