France’s Edonia Nets $16.8M to Ramp Up Production of Ground Spirulina Protein

French food tech startup Edonia has raised €15M ($16.8M) to open an industrial facility for its minimally processed spirulina protein mince, after securing €30M in pre-orders. The company's flagship product, Edo, is made from just two ingredients - spirulina and oil - and contains as much protein as beef with a smaller climate footprint than soy. Edonia will use the funding to open a new industrial-scale plant in Brittany and expand its B2B sales model in Europe, the US, and Japan.

Founded in 2023, Edonia uses its patented Edonization tech to cook spirulina in oil at a precise temperature, giving it a fluffy texture with a natural umami flavor. Additionally, Edo has 27g of protein per 100g, all essential amino acids, and a low environmental footprint. The startup has already found success with partnerships in foodservice and retail, with companies like Newrest and Aliive using Edo in their dishes and ready meals. The funding will allow Edonia to further develop their plant-based protein product and reach a wider market.