What is Onego Bio?
Headquartered in Helsinki, Finland, Onego Bio operates as a high-growth biotech spin-off originating from the VTT Technical Research Centre of Finland. The company specializes in the application of commercially proven Trichoderma fermentation technology to produce ovalbumin, the primary protein found in egg whites. By utilizing precision fermentation, Onego Bio offers a sustainable, animal-free alternative that addresses the environmental inefficiencies and supply chain vulnerabilities inherent in conventional poultry farming. Its market position is defined by its ability to provide a functional, high-quality protein ingredient that meets the rigorous demands of the global food industry while significantly reducing the carbon footprint associated with traditional egg production.
How much funding has Onego Bio raised?
Onego Bio has raised a total of $71M across 4 funding rounds:
Angel/Seed
$11.3M
Grant
$4.5M
Series A
$40M
Other Financing Round
$15.2M
Angel/Seed (2022): $11.3M with participation from Agronomics and Maki.vc
Grant (2022): $4.5M led by Tem
Series A (2024): $40M supported by Agronomics, Maki.vc, and Business Finland
Other Financing Round (2024): $15.2M featuring The European Innovation Council
Key Investors in Onego Bio
Agronomics
Agronomics Limited is a leading London-listed company focusing on investment opportunities within the field of cellular agriculture, utilizing biotechnology and synthetic biology to produce sustainable proteins.
Maki.vc
Maki.vc is an early-stage European venture capital firm specializing in supporting deep tech and brand-driven startups, focusing on entrepreneurs who challenge category norms.
Business Finland
Business Finland is a public entity providing innovation funding and internationalization services to promote sustainable economic growth and competitiveness for Finnish companies.
What's next for Onego Bio?
With the successful closure of its recent financing round, Onego Bio is poised to scale its production capabilities and expand its commercial footprint. The strategic focus for the coming quarters will likely center on optimizing fermentation yields and securing regulatory approvals in key international markets. As the company moves toward full-scale industrial production, it will continue to leverage its partnerships with deep-tech investors to refine its go-to-market strategy. The integration of its sustainable protein into mainstream food applications remains a primary objective, as the firm seeks to establish itself as a critical supplier for global food manufacturers looking to enhance their ESG profiles through innovative, bio-based ingredients.
See full Onego Bio company page
