French biotech Standing Ovation, which specializes in precision-fermented casein for animal-free dairy, announces it has raised €3.75 million in Series A+ funding. The funds will accelerate the company’s growth and the distribution and sales of its flagship protein ingredient — Advanced Casein — in the USA in 2025.
This new capital adds to the €12 million secured in the original round, led by Astanor Ventures in 2022. Peakbridge, Seventure, Good Startup, Big Idea Ventures, and the industrial group Bel also participated. The Paris-based startup has also received €3 million in funding from the French government and Bpifrance to accelerate the production of its fermented caseins, bringing the total raised by the company to €23 million in just four years.
“The only player mastering fermentative casein production, which will soon produce on an industrial scale”
Laetitia de Panafieu, the Astanor representative on Standing Ovation’s Supervisory Board, commented, “We are proud to support Standing Ovation, the only player mastering fermentative casein production, which will soon produce on an industrial scale to meet the needs of the agri-food industry and consumers.”
It is worth noting that in the first half of 2024, the fermentation sector in Europe exceeded its total funding for the entirety of 2023, reaching an impressive €164 million.
Yvan Chardonnens, the new CEO
The Paris-based startup also announces the appointment of Yvan Chardonnens as CEO to achieve its ambitious development goals.
A high-level executive with 30 years of experience in the international development of large B2B companies, Chardonnens will enable Standing Ovation to scale its production to an industrial level. Before joining, Chardonnens held important roles at Oterra, Swiss giant Firmenich, and International Flavors & Fragrances (IFF), where he managed various global categories for Unilever in Europe and Asia. He has also taken executive positions at Barry Callebaut, an international chocolate leader, and plant-based ingredients specialist Roquette.
Chardonnens shared, “Under Romain’s leadership, Standing Ovation has accomplished key technological, operational, and financial milestones in just four years to be ready for its next phase of industrial-scale growth. Together, our priority will be to accelerate our development by obtaining necessary regulatory approvals, strengthening our go-to-market strategy, and launching our large-scale industrial phase.”
Mass-produce Advanced Casein
Co-founded in 2020 by Romain Chayot, Standing Ovation has developed a precision fermentation process to manufacture animal-free proteins, starting with casein.
These fermented proteins are said to deliver the nutritional, gustatory, and functional qualities of animal casein in alternative dairy products, from cheeses to milk foam. Moreover, the startup points out that the products made with fermented casiens are free of antibiotics and GMO traces. Regarding sustainability, the French biotech claims Advanced Casein produces ten times fewer CO2 emissions and uses significantly less water and land.
Standing Ovation states that it has become one of the few global references in fermented casein production and is already recognized as a strategic player for France’s dairy sovereignty.
“Now is the time to accelerate to mass-produce and distribute Advanced Casein® in the global agri-food market”
The multinational cheese leader Bel Group, famous for iconic brands The Laughing Cow, Babybel, and Boursin, acquired an equity stake and partnered with the young startup to produce animal-free cheese. Standing Ovation is a French Tech 2030 award winner and a Precision Fermentation Alliance (PFA) and Food Fermentation Europe (FFE) member.
Chayot, now the managing director of the startup, shared, “It is a great opportunity for the Standing Ovation team to count on Yvan’s experience to write this new chapter together. After four years of research and innovation to develop our manufacturing and industrial production process, now is the time to accelerate to mass-produce and distribute Advanced Casein® in the global agri-food market.”
