Edonia raises €15M to scale microalgae protein

French startup Edonia just pulled in €15 million to ramp up production of its microalgae-based protein ingredient, Edo, and expand into Europe, Japan, and the US. They turn spirulina, which usually tastes like pond water, into a more appealing, high-protein product for food industry partners. The company reports €30 million in pre-orders and will use the new funding to open a larger facility and ship at scale.

• Edonia raised €15M from multiple investors
• Uses a patented process to make spirulina palatable
• Claims carbon footprint up to 27 times lower than meat
• €30M in pre-orders, mainly B2B
• Plans new facility and global expansion