French FoodTech startup Edonia has secured €15 million in Series A financing to scale its microalgae-based protein ingredient, Edo. The financing is backed by SWEN Blue Ocean 2, Asterion Ventures and EIT Food, alongside non-dilutive support from Bpifrance under the France 2030 programme and bank financing.
Founded in 2023 by Hugo Valentin, Pierre Mignon and Nicolas Irlinger, Edonia develops protein ingredients for food manufacturers and foodservice operators. The company uses its Edonization process to transform spirulina into Edo, a minimally processed protein grain designed for a range of food applications.
Edonia plans to use the financing to expand industrial production through a dedicated facility in France and grow its B2B sales across Europe, Japan and the United States. The company said it has secured €30 million in pre-orders through around 20 contracts and has already fulfilled initial orders for customers including Aliive and Newrest.
Asterion Ventures previously backed Edonia’s first financing in 2024, which supported the development of the startup’s industrial pilot.
