We advised Estonian-based biotechnology startup ÄIO on securing funding to develop an innovation centre to revolutionise the food, cosmetic and chemical industries with a low carbon approach to oil and fat production.
Innovative and sustainable
ÄIO, a pioneer in sustainable fat and oil production through fermentation, is set to revolutionise the food, cosmetic, and chemical industries. The company has initiated a Series A funding round, with early investment participation from Voima Ventures.
The recent funding injection will enable ÄIO to take the next significant steps in its journey. The company plans to construct an in-house pilot plant with a weekly production capacity of 20 kg, apply for novel food permits, expand its product portfolio, and initiate the pre-engineering phase for a demo-scale facility. Additionally, ÄIO aims to collaborate with various industries to test its products and explore opportunities for technology licensing.
Reducing the carbon footprint
Founded in 2022 as a spin-out of Tallinn University of Technology, ÄIO is on a mission to transform traditional fats and oils. By replacing them with locally sourced, sustainable alternatives, ÄIO is poised to make a significant impact on reducing the carbon footprint in the cosmetic and food sectors.
Unlike conventional production methods, which rely heavily on palm oils and animal-based fats, ÄIO employs circular economy processes that harness agricultural and food industry side-streams through innovative fermentation techniques. The result is a proprietary microbe capable of producing diverse lipid forms, including oil and buttery fats, offering eco-friendly solutions to a variety of industries.
Our services and client team
We advised ÄIO on all legal matters related to setting up the investment round and securing the funding from Voima. Our client team was led by senior associate Mirell Prosa, supported by partner Toomas Prangli and associate Kadri Puu.
A part of our advice to ÄIO was provided on a pro bono basis through the sTARTUp Day pitching competition award, as well as through the 2023 Sorainen Shared Mission programme.
More information: aio.bio