Edonia, a creator of protein ingredients based on microalgae (spirulina, chlorella) completes a first financing round of €2 million. This round, led by Asterion Ventures and complemented by BPI funds, will enable the company to industrialize its technology and extend its R&D.
Founded in 2023, the fact that Edonia is not subject to the “Novel Food” category (food or food ingredients requiring French/EU authorization to go to market) will enable it to commercialize its production very rapidly. Their launch will be European, and then the startup aims to quickly expand to other continents through strategic partnerships.
“At a time of climate emergency, when 34% of greenhouse gas emissions are generated by our food, the greening of our plates needs to accelerate. Microalgae, known for their nutritional and ecological virtues, can be a real tool for food industry professionals in this respect. But it has to taste good! That’s what we’re offering: delicious protein ingredients, that are hyper-nutritious, with very little processing or pollutants,” said Hugo Valentin, CEO of Edonia.
Thanks to a unique food technology called “edonization”, Edonia transforms micro-algae biomass into a textured super ingredient with numerous organoleptic, nutritional and environmental qualities. These assets make it an ideal candidate for replacing ground meat in culinary preparations: the product is positioned as the first plant-based alternative with superior nutritional performance to meat.
Edonization solves the biggest obstacles facing microalgae products: desirability and taste. Often presented in powder form with a pronounced taste, products on the market struggle to convince consumers outside of the nutraceutical niche.
Edo-1, the startup’s first product, naturally has the texture and taste of ground beef, without any flavoring or texturizing agents. Once inside the mouth it feels very close to meat, which reassures consumers. What’s more, scientific measurement analyses have proven that the product has a texture closer to ground meat than that of soy proteins.
The product itself is minimally processed, with a high content of proteins, essential amino acids, minerals and vitamins, exceeding the levels of the meat it can substitute. It can be easily integrated into recipes and industrial production chains. The quality of Edonia’s product has already been tested (and approved) by R&D chef Laurent Sicre, whose culinary expertise is recognized by food industry professionals and restaurateurs alike.
A Life Cycle Assessment, carried out with university institution AgroParisTech, shows that the product could emit 40 times less CO2 than its ground meat equivalent, and 3 times less than its textured soy equivalent. By substituting these materials with their product, Edonia would have a massive positive environmental impact in the years to come.
“We put our trust in Edonia because it provides tangible solutions for the transition to greener food. Thanks to its unique technology, Edonia promises to be a major player in the sustainable agri-food sector by the time France 2030 comes around,” added Marine Reygrobellet, Partner at Asterion Ventures and Board Member of Edonia.
Read the orginal article: https://www.eu-startups.com/2024/04/paris-based-edonia-raises-e2-million-to-produce-plant-based-ingredientes-from-microalgae/
