Revolutionizing the Food System: Onego Bio Secures $29M Funding to Fuel Sustainable Protein Innovation

Onego Bio, a pioneering US-Finnish food-biotech company, has successfully secured $29 million in funding to further its mission of transforming the global food system. Renowned for its groundbreaking approach to protein production, Onego Bio utilizes precision fermentation to create Bioalbumen®—a revolutionary, entirely animal-free egg protein that not only mirrors the taste and nutrition of traditional egg proteins but also boasts superior functional properties. This funding will enable the company to accelerate its innovative technology and increase production capacity, addressing the food industry's urgent demand for reliable and sustainable ingredients. With a remarkable environmental advantage, Bioalbumen® is crafted with over 90% smaller carbon footprint compared to conventional chicken eggs, making it a favored choice among environmentally-conscious businesses. Onego Bio's strides in sustainability do not go unnoticed; the company was recently honored as the Winner of Fast Company’s 2023 World Changing Ideas awards, highlighting its role as a game-changer in the food sector. Further solidifying its impact, Onego is also a co-founder of two prestigious industry associations: the Precision Fermentation Alliance and Food Fermentation Europe. With this new influx of capital, Onego Bio is poised to scale its operations and continue leading the charge toward a more sustainable and ethical food ecosystem, offering strategic solutions that will benefit both the planet and the consumer.