Edonia secures €15 million to take spirulina protein into commercial production

French food-tech company Edonia has secured €15 million (approximately US$17.4 million) in financing to expand production of its spirulina-derived protein ingredient, Edo, following €30 million (US$34.8 million) in pre-orders from food manufacturers and foodservice operators.

• Edonia has secured €15 million (US$17.4 million) in financing to expand production of its microalgae-derived protein ingredient.
• The company reports €30 million (US$34.8 million) in pre-orders across approximately 20 commercial contracts.
• Funding will support a dedicated production facility in France and B2B expansion across Europe, Japan, and the USA.

The investment brings together SWEN Blue Ocean 2, Asterion Ventures, and EIT Food, alongside non-dilutive support from Bpifrance under the France 2030 initiative and bank financing. Edonia plans to use the capital to establish a dedicated manufacturing facility in France and expand its business-to-business operations internationally.

The funding follows two years of industrial development during which the company has moved from laboratory-scale production to operating a pilot facility, establishing a supply chain, and supplying its first commercial customers.

Founded in France, Edonia has developed a proprietary process that transforms spirulina into a protein-rich food ingredient intended for use across a range of applications, including meat alternatives, prepared meals, and other protein-enriched products.

Its flagship ingredient, Edo, is produced using a patented technology known as Edonization, developed in collaboration with AgroParisTech. The process converts spirulina, traditionally consumed as a powdered supplement, into a tender, grain-like ingredient with a more neutral taste and a texture suitable for food manufacturing.

Spirulina is naturally rich in protein and contains a range of nutrients, but its distinctive flavor, color, and conventional powdered format have historically restricted its use in mainstream food products. Edonia's processing technology is designed to address those limitations without requiring extensive ingredient formulations.

Rather than attempting to replicate the appearance and characteristics of conventional meat products, the company is developing a whole-food protein ingredient that manufacturers can incorporate into existing recipes or use as the basis for new products.

Edonia claims its ingredient can deliver a carbon footprint up to 27 times lower than meat, although the environmental comparison depends on the production methods and animal protein used as a benchmark.

The company also places considerable emphasis on nutritional performance and affordability, two areas that have proved challenging for many alternative protein producers attempting to compete with established animal-derived products.

“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,” said Hugo Valentin, Co-Founder of Edonia.

The reported €30 million (US$34.8 million) in pre-orders, secured through approximately 20 contracts, provides Edonia with a commercial pipeline as it prepares to increase manufacturing capacity. The company has not disclosed the volumes covered by those agreements or the timetable over which deliveries are expected.

Among its existing customers are Aliive and Newrest, the international catering and foodservice group with operations across 50 countries. These early relationships have allowed Edonia to begin supplying its ingredient to professional food operators while developing the production infrastructure needed to serve larger accounts.

Its next manufacturing facility will be established through an existing partnership at a shared industrial site in France. The arrangement will allow Edonia to expand production without developing an entirely new location from scratch, although the company has not disclosed the facility's planned capacity or commissioning date.

The financing also supports an expansion of Edonia's B2B foodservice sales model across Europe, Japan, and the USA, where the company sees opportunities for protein ingredients that combine nutritional value with practical processing characteristics.

SWEN Blue Ocean 2, one of the investors participating in the financing, is backing the company through its investment strategy focused on ocean-related environmental challenges.

“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,” said Julie Peyrache, Investment Director at SWEN Blue Ocean 2.

“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.”
Edonia began industrializing its technology in 2024, when an earlier funding round supported the development of its pilot production capabilities. Since then, the company has concentrated on establishing manufacturing processes, securing supply arrangements, and converting commercial interest into orders.

The latest investment will finance the next stage of that work, with the planned French facility intended to provide the production capacity needed to fulfill existing contracts and supply additional customers in its target markets.

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