Edonia raises €15M to industrialize spirulina-based protein

French food tech startup Edonia has raised €15 million to industrialize the production of its microalgae-based protein ingredient. The funding round included participation from Swen Blue Ocean 2, EIT Food, and Asterion Ventures, supplemented by non-dilutive support from Bpifrance and bank loans.

The company intends to use the capital to open an industrial-scale production site within the next year at an existing facility owned by Maison Chancerelle in Brittany. Edonia’s flagship product, named Edo, is a minimally processed mince made from spirulina and oil. Designed as an alternative to animal proteins like meat, fish, or cheese, the ingredient aims to provide high protein content and a texture suitable for industrial food manufacturing and catering.

Edonia has already secured €30 million in pre-orders through approximately 20 contracts with industry leaders. The company plans to expand its B2B sales model to serve the collective catering sectors in Europe, Japan, and the United States.