Pascual Innoventures invests US$2 million in future food research through Mylkcubator program

Pascual Innoventures, the corporate venture arm of Pascual, has bolstered its commitment to advancing food innovation by investing over US$2 million in the first three editions of its Mylkcubator program. This initiative focuses on fostering innovation in the food sector, and its latest round of investments includes backing the US-Finnish biotech startup Onego Bio, which specializes in producing egg white alternatives through precision fermentation.

Since its inception, the Mylkcubator ecosystem has generated a total value of US$305 million and raised US$104.5 million in investment. These impressive figures underscore the program’s growing global impact and its success in cultivating a diverse portfolio of future food technologies. "The Mylkcubator Foodtech ecosystem has already generated significant value and raised substantial investment, highlighting its relevance in shaping the future of food," commented Gabriel Torres Pascual, CEO of Pascual Innoventures. He added that the program is helping to address critical challenges in the food industry while fostering sustainable solutions.

The third edition of Mylkcubator expands its focus beyond milk alternatives to encompass a wider range of products, including egg components, coffee, fats, and cocoa. It also explores the development of innovative sodium and sweetener substitutes, alongside functional ingredients that enhance food technology. This diverse approach reflects the program's mission to support groundbreaking startups that are creating sustainable solutions for the food sector.

Eatable Adventures, a global food-tech accelerator and partner in the Mylkcubator program, has been instrumental in driving the initiative forward. "The third edition of Mylkcubator reaffirms the substantial impact of this program on the global Foodtech ecosystem," added Itziar Ortega, Senior VP of Global Operations at Eatable Adventures. "Through its investments, Pascual Innoventures exemplifies the industry’s commitment to open innovation models that address major challenges in the food sector. We are proud to drive these collaborations and promote the adoption of new technologies to transition towards a more sustainable and efficient food system."

This year’s cohort includes five startups that are leveraging cutting-edge technologies to make a meaningful impact:

• Innomy (Spain-Argentina): Specializes in sustainable biotech processes using mushroom mycelium to develop food industry solutions, while repurposing industrial by-products.
• Cultzyme (Spain): Focuses on innovative bioprocesses, particularly cell growth and fermentation, with efficient bioreactors that integrate advanced hardware.
• Nosh.bio (Germany): Develops new functional and nutritional proteins through the fermentation of natural mushroom biomass.
• California Cultured (U.S.): Uses plant cell cultivation technologies to create a scalable and sustainable supply of chocolate and coffee.
• Onego Bio (U.S.-Finland): Produces egg white alternatives through precision fermentation, offering a vegan option with reduced contamination risks and environmental impacts lowered by up to 90%.

The Mylkcubator program’s success in attracting and nurturing these startups reinforces Pascual Innoventures’ commitment to driving the future of sustainable food production. By expanding into areas beyond milk alternatives, the program is helping to build a more resilient and innovative food system that addresses the growing demand for alternative food technologies.