Poseidona unveils game-changing algal protein and raises +€1 million in pre-seed funding led by FABER

Poseidona, a company at the forefront of sustainable food technology and an exhibitor at The Future of Protein Production Amsterdam on 23/24 October 2024, has announced a successful pre-seed funding round of €1.1 million, led by Faber, one of Europe’s leading VC funds specialized in climate tech and blue economy. The round also includes Dozen Investments, Sprout & About, Proveg International, and WA4STEAM (Women For STEAM).

This significant funding injection will be instrumental in advancing Poseidona's mission to develop innovative protein ingredients derived from algal sidestreams and invasive seaweeds, offering a scalable and eco-friendly solution to the global increasing demand for proteins.

Poseidona is on a mission to advance the protein market by offering a sustainable alternative to soy protein that excels in both cost-efficiency and quality, while drastically reducing the environmental footprint associated with traditional soy farming practices. This innovative solution significantly lowers water and land use, as well as carbon emissions, compared to both conventional plant-based and animal-based proteins, the latter being identified by the FAO-UN as a major contributor to climate change. By adopting a circular economy model that repurposes food industry by-products into valuable resources, Poseidona amplifies its environmental benefits, marking a significant stride towards a more sustainable future.

Founded by two distinguished scientists, Poseidona boasts Dr María Cermeño, circular foods’ protein specialist with a PhD in food biochemistry as the Chief Scientific Officer and Sònia Hurtado, a seasoned entrepreneur with over 20 years of experience in the food-tech sector as the Chief Executive Officer. Hurtado has dedicated much of her career to developing alternatives to animal-based food products. She brings a wealth of knowledge and expertise to Poseidona, having previously served as the Chief Scientific Officer at the company she co-founded, Current Foods (previously Kuleana), a San Francisco-based company that pioneered plant-based seafood with a sushi-grade tuna and salmon, joined the Y Combinator S20 batch, and was acquired by The Wicked Kitchen in 2023.

"This pre-seed funding round marks a significant milestone for Poseidona as we continue to pioneer sustainable solutions in the protein sector," said Sònia Hurtado, CEO of Poseidona. "We are grateful for the support of our partners, investors and advisors who share our vision of creating a more sustainable future for our planet and our oceans, disrupting traditional food production."

Poseidona's proprietary technology not only addresses sustainability concerns but also offers a viable solution to the growing demand for proteins. With the global population expected to reach 9.7 billion by 2050, the need for sustainable protein sources has never been more pressing. By utilizing algal sidestreams and invasive seaweeds, Poseidona is poised to make a significant impact on the food industry while mitigating environmental impact.

In particular, Poseidona is leveraging gellifiers production side stream from red seaweeds, further enhancing the sustainability of its operations and minimizing waste in the process. Additionally, Poseidona will start utilizing Rugulopterix Okamurae, an invasive seaweed in the Mediterranean, as a raw material. By repurposing this invasive species, Poseidona aims to not only provide a sustainable source of protein but also contribute to the management of marine ecosystems in the region. “Our plans go further and beyond in the use of other invasive seaweeds at a global scale,” said Hurtado.

As Poseidona continues to scale its operations, the company remains committed to driving innovation in the sustainability, alternative proteins, and food tech sectors. With this latest pre-seed funding round, Poseidona is well-positioned to accelerate its research and development efforts and bring its groundbreaking protein ingredients to market.