Edonia raises €15M to scale microalgae protein as an alternative to meat

Foodtech Edonia has raised €15 million in funding.  In recent years, plant-based alternatives have focused mostly on mimicking meat in taste, look and texture. However, the food market is now facing higher expectations: consumers aren’t just looking for a replacement, but for products that are high in protein, affordable and minimally processed while tasting good. 

Edonia proposes a different approach: a new whole food source based on microalgae that goes beyond replicating animal products.

Edonia’s flagship ingredient, Edo, offers high protein content with a texture and taste the food processing and food service industries can easily work with, while still keeping the ingredient list limited.

Derived from spirulina, the ingredient serves as an alternative to traditional sources of protein - meat, cheese, fish - while also improving the nutritional value of everyday foods.

The company created Edonization, a proprietary, patented process developed in partnership with AgroParisTech. Edonization transforms spirulina, a microalgae bioproduct packed with nutritional richness but mostly known as an unpleasant green powder, into a tasty, tender grain with a carbon footprint up to 27 times lower than meat. Edonia started industrialising its technology in 2024, with a first funding round supporting the development of a functional industrial pilot plant.

The startup then moved from laboratory work to production, setting up its own supply chain and fulfilling the first orders for its partners, including Aliive and Newrest, an international group present in 50 countries worldwide. With this new funding round,

Edonia has secured €15 million in investments from SWEN Blue Ocean 2, Asterion Ventures, and EIT Food, alongside non-dilutive funding from Bpifrance and bank financing.

Edonia will use these funds to scale up industrialisation by opening a dedicated facility, leveraging its relationship with a trusted partner in an existing shared location in France, and to grow its B2B foodservice sales model in Europe, Japan, and the United States.

Edonia secured €30 million in pre-orders through around twenty contracts signed with leading industry players.

“We've proven that a whole food protein can outperform the animal on nutrition and compete on price, at real volume, with real clients. This funding gives us the resources to turn our promise into verified proof,” shared Hugo Valentin, Co-Founder of Edonia.

Julie Peyrache, Investment Director at SWEN Blue Ocean 2, shared:

“Today, nutritious, tasty, inexpensive, good-for-the-planet food options are limited, and consumers are stuck needing to compromise on either the environment, health, or taste, depending on what they decide to choose as a protein source.

That is why we are delighted to support Edonia, whose innovative microalgae-based ingredients meet all of these demands and could drastically improve the health and sustainability of our food supply.”