Volare Solutions to raise €700k from Maki VC.

Volare Solutions, a Helsinki, Finland-based alternative producer of high-quality proteins and oils out of food waste, announced the completion of a €700k ($835k) funding round.

The money was raised from the local investor from Finland Maki VC, joined by VTT which contributes with technology IP into the company.

Volare, founded in 2021 by Tuure Parviainen and Matti Tähtinen as a spin-off from Finland's VTT Technical Research Centre of Finland, refines food industry waste into protein and lipids for fish feed, pet food and cosmetics industries. It does that by using a method of producing high-quality proteins and oils from the side streams of the food industry, such as non-edible parts of grains.

The company has a pilot plant in operation in Hyvinkää and aims to start its first commercial-scale production plant in 2023 and then build several plants in Finland and Europe.