In this third edition, Pascual Innoventures has channelled funding into the biotech startup Onego Bio, a US-Finnish firm that specialises in crafting an egg white alternative using precision fermentation.

According to Gabriel Torres Pascual, CEO of Pascual Innoventures: "The Mylkcubator Foodtech ecosystem has already generated a total value of $305 million and raised $104.5 million in investment, underscoring the success and global significance of the program, which we have launched in collaboration with the Foodtech accelerator Eatable Adventures."

This latest phase of the programme has widened its focus, now encompassing areas such as egg components, coffee, fats, and cocoa, while exploring alternative methods that blend diverse technologies and ingredients. Additionally, it has placed emphasis on creating substitutes for sodium and sweeteners as technological facilitators, alongside the development of functional ingredients.

"Our goal is to continue identifying and supporting innovative companies that can offer sustainable solutions to the current challenges in the food sector, while strengthening an ecosystem poised to lead the next generation of food technologies," highlights Gabriel Torres Pascual.

"The third edition of Mylkcubator reaffirms the significant impact of this program on the global Foodtech ecosystem. Through its investments, Pascual Innoventures exemplifies the industry’s strong commitment to open innovation models that successfully address major challenges in the food sector. At Eatable Adventures, we are proud to drive these collaborations, promoting the adoption of new technologies and facilitating a sustainable and efficient transition towards a more innovative food system," adds Itziar Ortega, Senior VP of Global Operations at Eatable Adventures.

In this new edition of the program, five startups utilising cutting-edge technologies have been selected for their potential to make a significant impact in these areas:

• Innomy, a Spanish-Argentinian company, develops global solutions for the food industry using sustainable biotechnological processes based on mushroom mycelium, while upcycling by-products from various industries as raw materials
• Cultzyme, a Spanish startup, focuses on cutting-edge bioprocesses, driving advancements in cell growth and fermentation. Their innovative and efficient bioreactors integrate hardware for optimised performance
• Nosh.bio, a German company, specialises in the production of new functional and nutritional proteins derived from the fermentation of natural mushroom biomass
• California Cultured, a US-based startup, is developing the most innovative plant cell cultivation technologies to create a new, more scalable and sustainable supply of chocolate and coffee for the planet
• Onego Bio, a US-Finnish company, specialises in producing an egg white alternative through precision fermentation – a breakthrough that reduces contamination risks, enables the creation of vegan egg-white products, and lowers environmental impact by up to 90%