Algaia is a biomarine ingredients company based in Paris that develops seaweed-based solutions for food, nutrition, cosmetics and plant care. Its core product lines include VegAlg, a range of seaweed-based texturing solutions for plant-based burgers, and the Algogel™ MVA series engineered to improve protein–lipid–water interactions in meat analogs. The company has expanded manufacturing capability with an industrial pilot production line inaugurated in Saint‑Lô in 2019 and a new production line that started up on March 16th. To support growth it secured €2.2M in funding and has received €7M for a manufacturing facility in Lannilis plus €1M for its R&D facility in Saint‑Lô. Algaia reported 17% sales growth in 2019 and an additional 25% sales growth over the first four months of 2020, with double-digit growth in nutrition and cosmetic activity and triple-digit growth in active ingredients for plant care. Management says the funding will help scale its VegAlg portfolio and leverage rising demand in vegan applications while expanding production capacity. Algaia sources brown algae from local fishermen near its plant in Brittany and processes the biomass into traditional seaweed extracts and other products. Led by CEO Fabrice Bohin, the company operates a production facility and innovation center in Saint-Lô (Normandy). It plans to expand that production unit to broaden its portfolio beyond traditional extracts by adding functional liquid products for the Ag-tech market. The company secured equity funding to support expansion of production and R&D capacity. Algaia is ISO 9001 and FSSC 22000-certified, and its product lines carry kosher and halal certifications. The company is Paris-based and emphasizes a local supply chain tied to Brittany fisheries.

Total raised

$7M

Funding rounds

2

Latest round

Equity

Latest activity

May 2020