Standing Ovation raises €3.75M for animal-free protein production

French precision fermentation company Standing Ovation has raised a €3.75 million extension to its Series A funding round. This brings the company’s total funds raised to €23 million over the past four years.

Founded in 2020, the company enables the production of animal-free proteins, and particularly casein, regarded as the star protein in milk – key to turning milk into other dairy products like cheese, ice cream, yogurt, milk foam, etc.

The French company has developed a solution to produce advanced casein and begin selling its patented ingredient, Advanced Casein®.

Casein® emits 10 times less CO2 than animal-derived milk proteins, enables efficient use of water and land, and is free from antibiotics and GMO traces—all while ensuring consumers the same nutritional, functional and taste qualities as protein originating from livestock.

The company plans to complete preparations for industrial-scale production by the end of the year.

Standing Ovation also announced the appointment of a new CEO, Yvan Chardonnens. 

Standing Ovation previously raised €12 million in 2022 through a Series A round led by Astanor Ventures, with investments from Peakbridge, Seventure Partners, Good Startup and Big Idea Ventures, along with backing from the Bel Group. The company has also received substantial funding from Bpifrance.

Laetitia de Panafieu, a representative of Astanor Ventures on Standing Ovation’s Supervisory Board, commented: 

“Feeding 10 billion people while reducing CO2 emissions in a world where water and arable land resources are growing scarcer is one of the greatest challenges of the 21st century. Tackling this will require new groundbreaking solutions. 

We are excited to see the first dairy products based on Advanced Casein® distributed worldwide.”

Romain Chayot, Co-Founder and Managing Director of Standing Ovation, said: 

“The Standing Ovation team is really fortunate to be able to count on Yvan's experience as we begin this new chapter together.

 After four years of research and innovation to fine-tune our industrial manufacturing and production process, the time has come to accelerate towards mass production and distribution of Advanced Casein® in the global agrifood market. Yvan has a reputation as a pioneer in developing new products that meet both industrial challenges and consumer demand.” 

Yvan Chardonnens, CEO of Standing Ovation, commented: 

“I am excited to be joining such an innovative company at the forefront of its sector, with the potential to have a positive impact on our food ecosystems and deliver solutions to climate challenges. In just four years under Romain's leadership, Standing Ovation has hit key technological, operational and financial milestones, paving the way for the next phase of industrial-scale growth. 

Together, our priority will be to step up our development by obtaining the necessary regulatory approval, strengthening our go-to-market strategy and embarking on large-scale industrial production.”

Lead image: ´Standing Ovation. Photo: Antoine Repesse.