Paris-based biotech startup Edonia has closed a €15M ($16.8M) round to scale up its bio-based spirulina protein.
Swen Blue Ocean 2, Asterion Ventures and EIT Food led the investment. Bpifrance added non-dilutive funding under France 2030, alongside bank loans.
Edonia’s product, Edo, is a minimally processed brown mince made from just spirulina biomass and oil, with a soft, meat-like bite. It delivers 27g of protein per 100g, with all essential amino acids and a PDCAAS score of 0.97. It also offers 20mg of bioavailable iron per 100g, more than beef or soy.
Spirulina has existed for 3.5 billion years. Yet its sensory properties have limited its use in food. Edonia’s patented Edonization bioprocess addresses this. It cooks the microalgae in oil at a precise temperature. The result is a fluffy grain with natural umami and no typical algae off-notes.
The company says it uses no additives, fermentation, extrusion or enzymatic treatments. Edo’s climate footprint is 1.95kg of CO2e for the same amount of protein. That is 27 times lower than beef and 2.5 times smaller than soy mince.
The capital will fund a new industrial-scale biomanufacturing plant at a Maison Chancerelle site in Brittany. It is set to open within a year. Edonia will also expand its B2B sales in Europe, the US and Japan. It has secured €30M in pre-orders from 20 industry players.
Founded in 2023 by Hugo Valentin, Pierre Mignon and Nicolas Irlinger, Edonia began industrialising its bioproduction in 2024. Catering group Newrest has served Edo in France since 2025, reaching thousands of meals monthly. In retail, Aliive added Edo to two Dietbon ready meals. About 40% of consumers switched from meat recipes to the spirulina versions, with matching satisfaction scores.
CEO Valentin said microalgae have applications well beyond nutraceuticals. Julie Peyrache of Swen Blue Ocean 2 said Edonia’s bio-based ingredients balance taste, health and sustainability.
