Estonia

Investment Climate Podcast with Nemailla Bonturi of ÄIO

Investment Climate Podcast

Investments & Finance

Investment Climate Podcast: Nemailla Bonturi of ÄIO, How to Get Funded in 2024

In this podcast series, Alex Shandrovsky interviews investors about benchmarks for funding alt proteins in 2024 and uncovers the investment playbooks of successful climate tech CEOs and leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Series 2 Episode 3: Nemailla Bonturi of ÄIO Key Facts ÄIO: Goal: to change the way we produce, consume, and perceive foods and other products Raised €6.1 Million, €1.8 million grant from the Estonian Business Innovation Agency. Lead Investor is 2C Ventures Joining the round was Nordic for Tech VC, Voima Ventures, and Smartcap Link to Spotify:  Display “Spotify Embed: …

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table setting with vegan meat and plates of salads, olives and more

© Veganic
Meat- and Fish Alternatives

Veganic to Showcase B2B Plant-Based Product Range at SIAL Paris

Estonia-based Veganic will be showcasing its latest innovations at SIAL Paris 2024. The company, which prides itself on using only natural ingredients without artificial additives, is focused on providing business customers and consumers with delicious, healthy alternatives to traditional meat products. Veganic’s flagship product, “THE SOURCE,” is a whole-cut vegan meat, made from “only 10 pure ingredients”, avoiding extrusion machines and heavy processing. By emphasizing clean plant power, Veganic aims to set itself apart in the plant-based market, catering to health-conscious consumers seeking both flavor and nutrition. At SIAL, Veganic will introduce attendees to a variety of products derived from “THE SOURCE”. These include: Plant-Based Prime Filet: Made from a blend of wheat, lentil, and pea protein, this filet offers 29 grams of protein per serving. …

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Estonia's government innovation lab, Accelerate Estonia has announced Estonia's first public novel food tasting and one of the first public tastings of novel foods across Europe. 

© Accelerate Estonia
Cultivated, Cell-Cultured & Biotechnology

Estonia to Hold First-Ever Public Novel Food Tasting Featuring Innovations by ÄIO & Gelatex

Estonia’s governmental innovation lab, Accelerate Estonia, in collaboration with the novel food startups ÄIO and Gelatex, has announced Estonia’s first public novel food tasting and one of the first public tastings of novel foods across Europe.  The event will feature dishes prepared by chef Johannes Hõimoja using novel food ingredients from ÄIO and Gelatex. It will take place on the 23rd of May during the region’s startup and tech event, Latitude59.  According to the announcement, participants will be informed about the product details, including the production process, ingredients, and allergens, and will be required to sign a consent form regarding the tasting. Fats and nanofibers for food ÄIO uses natural and precision fermentation to “brew” fats and oils using other industries’ side streams, such as sawdust. Its products can replace palm …

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ProFuse Technology and Gelatex have partnered to advance cultivated meat production.

© ProFuse Technology
Cultivated, Cell-Cultured & Biotechnology

ProFuse Technology and Gelatex to Expedite Cultivated Meat by Enhancing Muscle Growth 

Israeli biotech ProFuse Technology, a firm at the forefront of muscle tissue growth, and Gelatex Technologies, an Estonian materials technology company specializing in nanofibers, have partnered to advance cultivated meat production. The companies have announced that they have been working on a comprehensive solution for optimizing muscle growth that will expand production capacity and expedite the commercial viability of cultivated meat. Using a media supplement developed by ProFuse and Gelatex’s plant-based scaffolds, the companies claim to have reduced the average cycle of chicken muscle growth in just 48 hours and a fivefold increase in muscle protein compared to conventional methods of muscle growth. Guy Nevo Michrowski, CEO of ProFuse Technology, said, “By innovating through collaboration, we are assisting in reshaping the future of meat production. Together, Profuse and Gelatex …

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A salmon filet

© Jacek Chabraszewski-stock.adobe.com
Ingredients

Estonian Researchers Reach XPRIZE Finals with Pea-Based “Salmon Scented” Filet

GFI Europe grantee Sirli Rosenvald and researchers from the Estonian Centre of Food and Fermentation Technologies (TFTAK) reached the XPRIZE competition’s final stage with a realistic pea protein-based salmon filet that features a novel “salmon scented” oil. XPRIZE encourages startups to develop alternative chicken breast or fish filet products that surpass conventional meat in terms of nutrition, taste, and texture. Chinese cultivated meat company CellX also reached the finals with a cultivated chicken breast.  TFTAK is an Estonian multidisciplinary CRO founded in 2004 specializing in bioprocess optimization, food research, and developing innovative food and fermentation technologies. In 2022, Dr. Rosenvalt received funding from the GFI to further develop its salmon scent. Salmon scent molecules TFTAK uses plants to create eco-friendly solutions to reduce Europe’s reliance on traditional seafood sources. Its researchers have been …

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Fat made with up cycled ingredients

© ÄIO
Fermentation

ÄIO Raises €1M to Replace Palm Oil With Fats Made From Sawdust

Estonian startup ÄIO has secured €1 million to further develop its technology, which converts agricultural and wood industry sidestreams such as sawdust into alternative fats. The process uses a microbe called the “red bug” to ferment the industrial byproducts, converting them into nutrient-rich fats. These could replace commonly used products such as palm and coconut oil, which often have a hugely detrimental impact on the environment. The fats will be suitable for a range of applications, including foods such as plant-based meats along with cosmetics and household products. Funding was contributed by Nordic Foodtech VC, EAS, and others. ÄIO plans to use the capital to increase production capacity and collaborate with the food industry to test the fats. The startup will also apply for the …

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Meet-Future-chicken

© Meet Future
Startups, Accelerators & Incubators

Meet Future Wins Plant-Based Start-Up Competition With Fermented Mycoprotein Whole Cuts

Out of the 50+ startups that applied, Meet Future, an Estonian-based food tech that produces whole cut meat and seafood alternatives made from mycoprotein, was announced winner of the Plant-Based Start-Up Competition. Vevolution, a leading vegan marketplace and Plant-Based World Expo Europe, a B2B 100% plant-based food & beverage expo, selected Meet Future for its mycoprotein whole cuts, both of which are considered the second wave of plant-based alternatives. Next-gen whole cuts Triin Remmelgas and Andrean Razumovski founded Meet Future in 2021 to create the next generation of whole cut meat substitutes using fermented mycoprotein and clean-label recipes. Since then, the startup has developed a proprietary mycoprotein texturization technology to replicate animal tissue’s muscle and fibrous structure in its meat and seafood analogs. Meet Future’s first product …

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Mycoprotein Chicken plate

© Meet Future
Company News

Meet Future Opens Seed Round to Launch Mycoprotein Chicken in Baltics

Meet Future, an alt-protein startup from Estonia, recently announced a €400K seed round to launch its mycoprotein chicken. Meet Future is currently focused on offering products such as vegan fillets with clean-label ingredients, stating that healthy seafood alternatives will be its next category launch. Founded by Triin Remmelgas and Andrean Razumovski, Meet Future was part of ProVeg Incubator’s seventh cohort in 2021, where it raised €50K from ProVeg Incubator and angel investors.  The funds were used to develop texturising technology to make the brand’s first product, the Meet Chicken Fillet. After its success with the production process and end product, this newly announced seed round will be dedicated to launching the brand’s mycoprotein-based chicken and other new products in the Baltic regional market. “Receiving positive …

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cultivated meat scaffolding

© Gelatex
Cultivated Meat

Gelatex Now Able to Produce Enough Cultivated Meat Scaffolding for 300 Tonnes Annually

Estonia’s Gelatex has announced it is now running pilots with the capacity to produce enough cultivated meat scaffolding for 300 tonnes of meat per year. The scaffolds are made using the company’s nanofibrous materials technology. Gelatex’s work has been supported by investment from Lifely VC, a venture capital firm with a focus on removing animals from supply chains. Lifely has also invested in a range of other successful cellular agriculture companies such as Cultured Decadence, WildType, and Jellatech. According to Gelatex, the production of the scaffold material does not require much space — five kilograms per hour can be made by a machine occupying under ten square metres. This relatively small footprint should allow the company to stay ahead of demand. Aiming for price parity …

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©Crump
Fundraising

Hemp-Based Crump Could Revolutionize Alt Meat Market, Claims The Naturist 

Estonian start-up The Naturist claims to have perfected the formula for its hemp-based vegan meat, Crump. After partnering with a research facility that has dedicated the past two decades to developing the Crump formula, the startup has launched a crowdfunding campaign to launch its hemp-based meat innovation.  Crump is a hemp-based protein crumble made to replace ground beef which takes only five minutes to prepare. The brand claims the vegan and organic product has an impressive amino acid profile and is easy to digest, contains 2.3X more protein than conventional beef, as well as boasting a shelf life of up to two years with no preservatives. Hemp is a plant that is very resilient and can be grown in high-risk farming zones that are inhabitable …

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ProProtein founder Kaisa Orgusaar

Founder and CEO Kaisa Orgusaar © ProProtein
Cultivated, Cell-Cultured & Biotechnology

Estonia: ProProtein Opens Seed Round for Cow-Free Casein

ProProtein, the female-driven Estonian alt dairy startup, has initiated a seed funding round to develop its precision fermentation platform. Looking for €700,000, ProProtein aims to develop scalable biotech to produce dairy proteins from yeast. Through March and April, ProProtein will be raising its seed round funding, following the company’s announcement of a successful casein expression by co-founder and CSO Tiina Tamm PhD. Caseins are essential functional proteins in milk that give cheese the ability to melt and stretch as well as traditional flavors. Casein without the cow Calling the latest casein expression a “big milestone”, ProProtein hopes the next funding round we will focus on optimizing its yields and going through safety analysis, with the ultimate goal to produce real dairy cheese without cows. Female-led …

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foodinnovationsummit

Image courtesy of Food Innovation Summit
Fairs & Events

Nordic’s Largest Online Conference on Food Innovation will present Oatly and Unilever

The largest food innovation conference in the Nordics, The Food Innovation Summit, will take place in Estonia for the third time. The event will be held as a video conference and gathers the leading food experts from across the world to analyze rapid developments that are transforming the food industry.

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Natufia Kitchen

© Natufia
Company News

Natufia Labs Receives $1.2 Million Grant Due to Boom in Veganism

The Estonian start-up Natufia Labs uses machine learning technology to develop sustainable and natural solutions in the form of indoor garden models that can be used to grow plants. With these intelligent machines, consumers can easily grow their own plants in the kitchen. In order to expand into Europe and the USA, the new company has now received 1.2 million dollars in capital.

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