Estonian biotech ÄIO receives a €30k Tech Validation award

Tallinn-based biotech startup ÄIO has received a €30,000 Tech Validation award at the EIT Food Accelerator Network event. This award will help with further product development.

• ÄIO was founded in 2022 by TalTech bioengineers Petri-Jaan Lahtvee and Nemailla Bonturi. It is a biotech firm aiming to replace environmentally depleting oils with sustainable alternatives. These oils are produced from agricultural and wood industry side-streams using processes derived from the biotech research.

Earlier this year, ÄIO raised €1 million to increase the production capacity of alternative oils and fats. You can read more details about the startup and the deal, here.

• The company is one of this year’s 15 award winners of the EIT Food Accelerator Network event. The program enables impactful Agri-FoodTech to accelerate, further validate their technology, and advance their investment and commercial readiness to achieve the ultimate goal: successful market adoption.
• This award will enable ÄIO to further implement its product tech development roadmap with experts thanks.