This Startup Turns Algae Into Protein—27x Greener Than Beef

Jan de Vries · 2026-10-06

### The $16 Million Bet on Algae Protein French FoodTech startup Edonia just raised $16 million (€15 million) to scale up its microalgae-based protein ingredients. The company is a B2B supplier specializing in ready-to-eat protein ingredients, and this round follows a previous $2.2 million (€2 million) raise in 2024. The round was led by SWEN Blue Ocean 2, Asterion Ventures, EIT Food, and Bpifrance. CEO Hugo Valentin put it simply: "The goal now is simple: make enough of it, and bring it to food manufacturers and foodservice operators across Europe, Japan and the US." ### Why This Round Matters Edonia's raise comes amid a surge of investment in European B2B protein and food-ingredient technologies in 2026. Here's a quick look at some other notable rounds: - Verley raised $34 million (€32 million) to expand precision-fermented whey-protein production. - Standing Ovation secured $32 million (€30 million) for precision-fermented casein. - Planetary raised approximately $24.5 million (€23 million) for fermentation-based ingredient production. - MAASH secured $13 million (€12.15 million) to industrialize mycoprotein. - Vivici received $13.3 million (€12.5 million) to scale animal-free dairy proteins. - Pacifico Biolabs raised $7.5 million (€7 million) for mycelium-based protein. Along with smaller rounds for Aardaia, Ferm Labs and Millow, these 2026 announcements represent roughly $135 million (€127 million) in funding, or about $151 million (€142 million) including Edonia's new round. ### The Technology Behind Edonia Founded in 2023, Edonia develops ready-to-eat protein ingredients made from microalgae for foodservice operators and food manufacturers. The company uses a patented process developed with AgroParisTech Innovation. At the heart of Edonia's technology is Edonization, a patented process that transforms spirulina into a whole-food protein ingredient. Its first product, Edo, is made by cooking spirulina in oil at a controlled temperature, creating a tender grain that addresses one of the longstanding barriers to wider spirulina adoption: its distinctive taste. Edo contains 27g of protein per 100g (about 3.5 oz) and is rich in iron. Edonia says the processing method gives the ingredient a tender and fluffy texture similar to minced meat without relying on the long lists of additives commonly found in some alternative protein products. The company also claims Edo can have a carbon footprint up to 27 times lower than beef. ### Investor Confidence Marine Reygrobellet, Partner at Asterion Ventures, shared why they backed Edonia: "What struck us from our very first meeting with Hugo and the Edonia team was how fully developed the product already was, how it ticked every box: taste, natural ingredients, scalability for industrial production, and market positioning. Many alternative protein projects we encountered back then only had part of the equation right." She added: "Three years later, that initial assessment has been confirmed: the team built a solid commercial pipeline even before the factory was up and running, a fact that speaks volumes about both the product's quality and the team's vision and sales capabilities. We are delighted to continue supporting Edonia in this next phase, alongside SWEN." Julie Peyrache, Investment Director at SWEN Blue Ocean 2, noted: "There is an increasing demand for nutritious, tasty, inexpensive, good-for-the-planet foods as people become more aware of the climate problems posed by meat consumption and the health problems posed by ultra-processing. Today, options that meet all those criteria are limited." ### What's Next for Edonia Edonia has already secured more than $32 million (€30 million) in pre-contracted revenue from industrial partners, according to the company. Its ingredients are being used in both catering and ready-meal applications. The company is positioning its technology as a way for manufacturers and foodservice companies to use spirulina as an ingredient in dishes rather than mainly as a dietary supplement. With this new funding, Edonia plans to expand commercial use of its microalgae-based ingredients and bring them to more food manufacturers and foodservice operators across Europe, Japan, and the US. Spirulina has long attracted interest because of its nutritional profile and relatively low environmental footprint, but its taste and other organoleptic characteristics have limited its use in everyday food products. Edonia's technology could change that, offering a sustainable and tasty alternative protein source for the masses.