Onego Bio Raises $40M to Commercialize “Revolutionary” Animal-Free Egg Protein
US-Finnish biotech company Onego Bio has raised $40 million in one of the largest Series A rounds in the Nordics. The funding will be used to drive the commercialization and manufacturing of the company’s animal-free egg protein, which is produced using precision fermentation. The round was led by NordicNinja, with participation from Tesi, EIT Food, Agronomics, and more. It also includes $10 million in non-dilutive funding from the Finnish government association Business Finland. Previously, Onego Bio raised €10 million in seed funding in 2022, after being founded as a spinoff from VTT (the Technical Research Center of Finland). Onego Bio’s ingredient, Bioalbumen®, has a neutral taste and is bioidentical to the major egg white protein ovalbumin. It contains all the essential amino acids, has the …