Creating food from agricultural and wood sidestreams? Estonian startup ÄIO lands €1 million to make it happen
Summary
Tallinn-based ÄIO has just secured €1 million to create alternative oils and fats, that are edible, developed from agricultural and wood industry sidestreams, and make for a more sustainable food system. As highlighted by ÄIO co-founder Nemailla Bonturi: “Palm and coconut oils used to make plant-based meat alternatives, do not deliver the same taste and mouthfeel as animal fat. Co-Founder Petri-Jaan Lahtvee: “Compared to livestock farming, plant-based meat also requires 47-99% less arable land, emits 30-90% fewer greenhouse gases and uses 72-99% less water.” The startup has just secured €1 million, after being launched just last year, from investors including Nordic Foodtech VC, EAS and other partners. Mika Kukkurainen, partner and founder of Nordic Foodtech VC: “Turning low-value side-streams into something so valuable is very futureproof and has great scalable business potential. Petri-Jaan Lahtvee: “As scientists, we were excited that years of research resulted in a real product that could revolutionize the entire food industry and consumer experience.
Funding
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