Algama SAS

Based in France, Algama SAS develops innovative microalgae-based food solutions, particularly focusing on sustainable egg substitutes for the bakery and pastry sectors, addressing market needs for environmentally friendly alternatives. Founded in 2013 and headquartered in Paris, France, Algama SAS specializes in microalgae-based egg substitutes, catering to the bakery and pastry industries. The company's founders, Alvyn Severien and Gaëtan Gohin, have a background in food technology. In November 2022, Algama raised EUR 10.

635 mn in a Series A funding round led by Noshaq, with participation from other investors including Thai Union Group and NewTree Impact. This funding brings the total amount raised by the company to EUR 10. 635 mn, with a current valuation of EUR 36. 511 mn.

Algama specializes in producing innovative microalgae-based egg substitutes, branded as Tamalga, which are designed to partially or fully replace eggs in bakery and pastry applications. This product line aims to maintain the organoleptic qualities of baked goods while offering a competitive cost advantage and significantly reducing environmental impact compared to traditional egg-based products. The Tamalga range is particularly relevant as the market faces rising egg prices and increasing environmental regulations, with clientele including artisanal bakers and industrial pastry manufacturers across Europe and potential markets in North America. In the most recent financial year of 2018, Algama reported a revenue of EUR 194,502.

40, while experiencing an EBITDA of EUR -1,233,876. 90. Revenue is generated primarily through B2B sales of their Tamalga egg substitute products, with transactions conducted via negotiated contracts to meet the specific operational needs of bakery and pastry professionals. Following the Series A funding round in November 2022, Algama plans to utilize the EUR 10.

635 mn raised to enhance its commercialization efforts and develop new applications for its microalgae products. A key initiative includes the construction of a new bio-refinery in Belgium, which is expected to support expansion into additional European markets and beyond.