Danone has made a strategic investment in the French startup Standing Ovation to accelerate the commercial deployment of animal-free dairy proteins. This capital influx comes via Danone Ventures, the dairy leader’s venture capital arm, as part of Standing Ovation’s Series B funding round.
Standing Ovation specializes in converting whey permeates into caseins through precision fermentation. According to the company’s website, its flagship product, Advanced Casein, is “identical” to dairy casein sourced from livestock in terms of structure, sequence, and coagulation.
In this funding round, Standing Ovation raised a total of $34.2 million, including $28.5 million in equity. The equity financing was co-led by Bpifrance through its government-backed Ecotechnologies 2 fund and Crédit Mutuel Innovation. Additionally, Bpifrance and a banking syndicate contributed $5.7 million in non-dilutive financing.
Danone joins existing investors, such as fellow French dairy leader Bel Group. Standing Ovation announced on March 31 that it plans to utilize the raised funds to commercialize its proteins, with the U.S. as its primary market, followed by rollouts in Europe and Asia starting at the end of 2027.
Bel Group, known for brands like The Laughing Cow and Babybel, initially invested in Standing Ovation in 2022, establishing an “exclusive partnership” to incorporate the startup’s casein milk protein into its alternative cheese offerings.
Yvan Chardonnens, CEO of Standing Ovation, alongside co-founder and managing director Romain Chayot, stated: “With the support of leaders like Bel and Danone alongside our industrial partners, our patented technology is becoming the focal point for an industry-wide shift toward sustainable, high-performance proteins. Our ambition is to pioneer a new, circular, and sustainable approach to protein production to meet rapidly growing global demand. By combining technological innovation with the dairy industry’s expertise, we are bridging the gap between the agri-food industry and deep tech.”
Instead of focusing on its own production facilities, the Paris-based startup collaborates with established fermentation manufacturers. This latest funding round follows Standing Ovation’s earlier €16 million ($18.5 million) Series A round, demonstrating the growing interest in food and beverage industry trends emphasizing sustainability.
