ÄIO raised €6.1M in a Series A funding round led by Voima Ventures, 2C Ventures, SmartCap, and Nordic Foodtech VC to develop sustainable oils from wood and agricultural residue.
ÄIO raised €6.1M in a Series A funding round led by Voima Ventures, 2C Ventures, SmartCap, and Nordic Foodtech VC to develop sustainable oils from wood and agricultural residue.
09/26/24, 10:51 AM
Location
tallinnMoney raised
€6.1 million
Industry
food processing
food and beverage
agriculture and farming
biotechnology
Round Type
series a
Investors
Nordic Foodtech Vc, Smart Cap, 2 C Ventures, Voima Ventures
Biotechnology startup ÄIO has secured €6.1 million to establish a demo plant in Estonia focused on producing environmentally friendly oils and fats. This funding will enable the company to reduce reliance on harmful oils in the food industry by transforming agricultural and wood residues into food-grade oils.
Company Info
Location
tallinn, harju maakond, estonia
Additional Info
ÄIO is a biotechnology startup founded in 2022 as a spin-off from TalTech, focusing on the development of sustainable oils derived from wood and agricultural residues. The company utilizes specialized yeast to create food-grade fats and oils, providing an environmentally friendly alternative to traditional oils in the food and cosmetics industries. ÄIO's innovative approach significantly reduces land use and water consumption compared to conventional oil production methods. The startup aims to revolutionize food production with its unique products, benefiting both industry and the environment.