Edonia raises €12M to scale its microalgae meat alternative
What's the deal? French foodtech EdoniaDealroom has a profile for this one. Try Dealroom → has raised €12 million ($13.5 million) to industrialise Edo, a protein ingredient made from microalgae. The round was led by Swen Blue Ocean 2, EU body EIT FoodDealroom has a profile for this one. Try Dealroom →, and Asterion VenturesDealroom has a profile for this one. Try Dealroom →, with additional non-dilutive funding from Bpifrance under the France 2030 programme and bank financing.
What's the endgame? Founded in 2023, Edonia transforms spirulina — a microalgae rich in protein — into an ingredient that can replace meat or go into breads and prepared dishes. It sells B2B to collective catering operators and food manufacturers, including catering group NewrestDealroom has a profile for this one. Try Dealroom → and AliiveDealroom has a profile for this one. Try Dealroom →, a brand of weight-management specialist DietbonDealroom has a profile for this one. Try Dealroom →.
Why now? The company says it has proven its technology works outside the lab and now wants to scale production. "We have proven that a microalgae-based ingredient can rival meat on nutrition, as well as on price and taste, in real volume and with real customers," said co-founder Hugo Valentin (translated from French).
What's the money for? Edonia plans to open a full-scale production site within an existing facility of Maison ChancerelleDealroom has a profile for this one. Try Dealroom →, a Breton company known for its canned seafood, within a year. The move aims to lift volumes and grow sales to industrial and catering clients across Europe, Japan, and the US.
The startup raised €2 million in 2024 to fund an earlier industrialisation phase, which allowed it to install an industrial pilot in Agen and structure its supply chain. It says it has signed around 20 contracts with industry leaders, representing €30 million in pre-orders.
The signal: Edonia's move from pilot to full-scale production marks the test every alternative-protein startup eventually faces — proving it can deliver volume, price, and taste at industrial scale, not just in the lab.
Read more: maddyness.com
Image credit: worldanimalfoundation.org
