Edonia Raises €15M to Scale Microalgae-Based Protein as a Sustainable Meat Alternative

Foodtech company Edonia has raised €15 million in funding as it looks to scale its microalgae-based protein technology. In recent years, plant-based food companies have largely focused on creating alternatives that replicate the taste, appearance and texture of meat. But consumer expectations are evolving. Shoppers are increasingly looking for products that are not only tasty but also rich in protein, affordable and made with minimal processing.

Edonia is taking a different approach by developing a new whole-food protein source from microalgae rather than simply trying to recreate animal-based products. The company’s flagship ingredient, Edo, is derived from spirulina and combines a high protein content with a texture and taste designed to work easily across food manufacturing and foodservice applications. It also maintains a relatively simple ingredient list. Edo can be used as an alternative to conventional protein sources such as meat, cheese and fish, while also helping improve the nutritional profile of everyday foods.

At the heart of Edonia’s technology is Edonization, a proprietary and patented process developed in partnership with AgroParisTech. The technology transforms spirulina—a nutrient-rich microalgae that is traditionally associated with an earthy taste and green powder—into a tender, flavorful grain. According to Edonia, the resulting ingredient can have a carbon footprint up to 27 times lower than meat.

Edonia began industrialising its technology in 2024, with its first funding round supporting the development of a functional industrial pilot plant. The company has since moved beyond laboratory development and into production, establishing its own supply chain and delivering its first orders to customers, including Aliive and Newrest, an international foodservice group operating in 50 countries.

With its latest funding round, Edonia has secured €15 million from SWEN Blue Ocean 2, Asterion Ventures and EIT Food. The round also includes non-dilutive funding from Bpifrance and bank financing. The company plans to use the new capital to accelerate industrial production by opening a dedicated facility in France through a trusted partner at an existing shared site. It also plans to expand its B2B foodservice business across Europe, Japan and the United States.

Edonia has already secured €30 million in pre-orders through around 20 contracts signed with leading players in the food industry, providing a strong commercial foundation as it moves toward larger-scale production.

“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.”