Edonia Raises €15M to Scale Microalgae Protein as a Meat Alternative

The ingredient is produced through a proprietary, patented process the company calls Edonization, developed with AgroParisTech. The process converts spirulina, typically known as a green powder, into a tender grain. According to both outlets, the result carries a carbon footprint up to 27 times lower than meat.

The round was led by SWEN Blue Ocean 2, Asterion Ventures, EIT Food and Bpifrance. It follows a €2 million round in 2024, which supported the development of an industrial pilot plant. Edonia began industrialising its technology in 2024, moving from laboratory work to production, establishing its own supply chain and fulfilling its first orders.

EU-Startups reported that CEO Hugo Valentin said the goal now is to make enough of the ingredient and bring it to food manufacturers and foodservice operators across Europe, Japan and the US.

According to EU-Startups, the raise comes amid continued investment in European B2B protein and food-ingredient technologies in 2026, including rounds for Verley (€32 million), Standing Ovation (€30 million), Planetary (around €23 million), MAASH (€12.15 million), Vivici (€12.5 million) and Pacifico Biolabs (€7 million). Together with smaller rounds for Aardaia, Ferm Labs and Millow, the 2026 announcements represent roughly €127 million, or about €142 million including Edonia's new round.

Endeavor Catalyst Launches $320M Fund V as Europe Becomes Its Fastest-Growing Market

The global venture fund has begun deploying an oversubscribed $320 million Fund V, with Europe now its fastest-growing region.