Spanish biotechnology startup MOA Foodtech has been awarded a €14.8 million investment commitment from the European Innovation Council (EIC) as part of the latest EIC Accelerator funding round. The company, which specializes in biomass fermentation and artificial intelligence-driven ingredient production, was one of 71 businesses selected from over 1,200 applicants.
“Our selection […] is a vote of confidence in MOA’s technology”
The funding consists of a €2.3 million direct grant, with an additional €12.5 million in equity investment to be deployed in a second phase. MOA Foodtech plans to use this investment to scale its AI-powered fermentation platform, Albatros, and advance the development of functional ingredients derived from agri-food by-products.
“Our selection by the EIC is a vote of confidence in MOA’s technology, which seeks to revolutionize ingredient production. This funding will allow us to advance our AI platform, develop new functional ingredients, and further expand our impact,” Bosco Emparanza, CEO of MOA Foodtech, as reported by Protein Production Technology International.
MOA Foodtech’s fermentation process focuses on using naturally occurring, non-GMO microorganisms, which are already recognized as safe by regulatory authorities such as the European Food Safety Authority (EFSA) and the US Food and Drug Administration (FDA). This approach aims to reduce regulatory barriers and expedite market entry for new ingredients.
Upcycling food waste
A key aspect of MOA’s business model is the upcycling of food industry by-products into high-value ingredients, a process that aligns with the growing demand for sustainable and functional food solutions. The company is already collaborating with industry partners, including Italian food manufacturer Barilla, to develop novel ingredient applications.
The EIC Accelerator program, part of the Horizon Europe initiative, provides selected companies with financial backing as well as business development support. According to the EIC, this latest round of funding was the most competitive to date.
CEO and co-founder Jose Maria Elorza Barreda commented on the investment, saying, “Very happy to receive this great support from the European Innovation Council and SMEs Executive Agency (EISMEA) to unlock the potential of fermentation for the food industry!”
