Edonia raises €12M Series A led by Asterion Ventures to scale spirulina protein ingredient

Edonia Secures €12M Series A

French foodtech company Edonia has raised €12 million in Series A funding, the company announced on October 6, 2026. The round was led by Asterion Ventures, with participation from EIT Food and Swen Blue Ocean 2.

Founded in 2023 in Paris by Hugo Valentin, Pierre Mignon, and Nicolas Irlinger, Edonia is developing a textured ready-to-use protein ingredient derived from spirulina microalgae. The product, called Edo, is produced using the company's patented Edonization process, which was developed in collaboration with AgroParisTech.

What Edonia Does

Edonia operates in the alternative protein space, turning spirulina microalgae into a functional ingredient for the food industry. Edo is sold business-to-business to food manufacturers and collective catering operators. It can be used as a meat alternative or as a nutritional enhancer in everyday food products.

The ingredient features a clean-label, two-ingredient recipe and is positioned as having a carbon footprint up to 27 times lower than meat. This sustainability angle aligns with growing demand from food producers and caterers looking to reduce their environmental impact while maintaining nutritional value.

Commercial Traction

Edonia has already signed approximately 20 industrial contracts, representing €30 million in pre-orders. Among its first clients are Newrest and Aliive, both notable names in the food service and catering sectors. This early commercial validation suggests that Edo has found a receptive market among manufacturers and large-scale caterers seeking alternative protein solutions.

Scaling Production

The new funding will support Edonia's transition from its pilot production facility in Agen to a full-scale production site. This scale-up is a critical step for the company as it moves to fulfill its pre-order pipeline and expand its manufacturing capacity to meet industrial demand.

Market Context

The alternative protein sector continues to attract investment as food systems face pressure to reduce emissions and improve sustainability. Microalgae-based ingredients like spirulina offer a promising avenue because they can be produced with a lower environmental footprint compared to conventional animal agriculture. Edonia's focus on a clean-label, two-ingredient product may also appeal to consumers and manufacturers increasingly wary of long ingredient lists and processed additives.

Investors

The Series A round was led by Asterion Ventures, a venture capital firm backing the round. EIT Food, a food innovation community and investor, and Swen Blue Ocean 2, an ocean-focused impact fund, also participated. Their involvement signals confidence in Edonia's technology and commercial strategy.

What's Next

With €12 million in fresh capital, Edonia is positioned to advance its production capabilities and commercial rollout. The company's ability to convert its pre-order pipeline into recurring revenue will be a key metric to watch as it scales. For now, the funding marks a significant milestone for the young French foodtech and its ambition to become a supplier of sustainable protein ingredients at industrial scale.