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French food-tech company Standing Ovation has raised $34.2 million (€30 million) in Series B funding to accelerate the commercialisation of its precision-fermented dairy proteins.

The round includes $28.5 million (€25 million) in equity led by Bpifrance through its Ecotechnologies 2 fund and Crédit Mutuel Innovation, alongside participation from existing investors such as Bel Group, Astanor, and Seventure Partners. New strategic backing comes from Danone Ventures, marking a deepening alignment with major dairy players.

An additional $5.7 million (€5 million) in non-dilutive financing was secured from Bpifrance and a banking syndicate.

Founded in 2020 and led by CEO Yvan Chardonnens and co-founder Romain Chayot, Standing Ovation has developed a patented precision fermentation process that converts whey permeate into high-value casein proteins.

Casein is a critical dairy ingredient, widely used in cheese, yogurt, ice cream and protein formulations. Traditionally derived from milk, it represents the majority of milk protein content and is central to texture and functionality in dairy products.

Standing Ovation claims its process is the first to produce casein at scale via fermentation, while also upcycling low-value dairy side-streams that are typically used for animal feed, fertiliser or biogas.

The funding comes amid growing pressure on global protein supply chains. Industry estimates suggest an additional 250 million metric tons of protein will be required by 2050, while climate change and declining livestock numbers may constrain milk production.

The participation of Bel Group and Danone underscores growing interest from established dairy players in precision fermentation as a complementary technology rather than a replacement.

Bel has partnered with Standing Ovation since 2022, while Danone’s investment signals increasing engagement with fermentation-enabled ingredients as part of its sustainability and innovation strategy.

The new capital will primarily support commercialisation in the United States, identified as the company’s lead market. Expansion into Europe and Asia is planned for late 2027.

Rather than building its own production facilities, Standing Ovation is pursuing a partnership-led manufacturing model, collaborating with established fermentation players to scale output more efficiently.

Standing Ovation’s approach is designed to integrate with existing dairy value chains, offering new revenue streams for producers while supplying food manufacturers with functional, low-impact proteins.