De Novo Gets $4M in Funding for Fermented Lactoferrin
De Novo Foodlabs, a food technology company focused on creating rare protein-based functional ingredients, has announced fresh capital, bringing its total investment to $4 million. This investment will enable De Novo to fast-track the commercialization of its revolutionary precision fermented lactoferrin product, NanoFerrin. The raise, spearheaded by sustainable protein venture capital firm Joyful Ventures, highlights the immense potential of De Novo’s state-of-the-art, animal-free protein solutions to reshape the health and wellness landscape.
Lactoferrin, a functional protein primarily found in milk, plays a crucial role in infant development, and offers numerous health benefits for adults, such as improved immunity, brain health, iron absorption, gut health, and longevity. Lactoferrin has been shown to be effective in alleviating aging-related changes through its anti-oxidation, anti-cellular senescence, and anti-inflammation properties, among others. Traditional extraction methods from cow milk are not only prohibitively expensive but also plagued by sustainability and ethical challenges. De Novo Foodlabs was established to tackle these issues head-on by developing an alternative lactoferrin that delivers all the health benefits without the ethical and environmental drawbacks.
“The lactoferrin market has long been hindered by high prices and inconsistent supply,” said Jean Louwrens, CEO and co-founder of De Novo Foodlabs. “Our team of leading scientists and engineers has dedicated themselves to overcoming these challenges through precision fermentation technology, and we are thrilled to have achieved a breakthrough. NanoFerrin is not only more affordable and eco-friendly; importantly, it also provides a reliable supply source compared to traditional bovine lactoferrin products. We are excited to collaborate with our investors to elevate De Novo to new heights.”
“De Novo Foodlabs exemplifies the innovation and sustainability we champion at Joyful Ventures,” said Milo Runkle, general partner at Joyful Ventuers, and co-founder of the Good Food Institute. “Their advancements in precision fermentation technology and dedication to creating impactful alternatives to high-value animal-derived ingredients pave the way for scalable and profitable industry solutions.” As part of the investment, Runkle will join De Novo’s board of directors.
This latest funding round follows initial investments from Sustainable Food Ventures, Siddhi Capital, Pascual Innoventures, UM6P Ventures, Cult Food Science and Prithvi Capital, bringing De Novo’s total funding to $4 million since its inception in 2021.
The global lactoferrin market, valued at $773 million in 2023, is projected to grow annually by 15.8 percent over the next decade, presenting tremendous opportunities for innovators and investors to enhance the supply chain and satisfy consumer demand. De Novo’s NanoFerrin offers an unmatched ingredient for the food, beverage, and supplements sectors, facilitating rapid market expansion and category growth.
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Béquet Confections Hires Jeff Grossman as Chief Revenue Officer
Béquet Confections has chosen confectionery industry veteran Jeff Grossman to join the executive team as chief revenue officer on Aug. 1. Grossman has more than 30 years of progressive management experience in the industry, working with leading brands such as YumEarth and Ford Gum and expanding distribution within a variety of channels including club, grocery, specialty, mass, drug, convenience, value, and online. He was inducted into the NCSA Candy Hall of Fame in 2022.
The nation’s premier gourmet caramel company, Béquet Confections is known for its exceptional quality. The company sources the purest ingredients available, without added preservatives, artificial colors or artificial flavors to create the most exquisite, indulgent caramel.
“Consumers are looking for clean foods and confections, made with superior ingredients that are free from artificial components,” says Grossman. “Béquet Caramel is not only clean, it tastes incredible. I’m honored to work with this stellar team to promote the premium Béquet brand.”
Reporting to the co-presidents of Béquet, Grossman will lead the development and execution of strategic revenue generation. His primary goals are to drive revenue growth and expand market share across all business units. As CRO, Grossman will lead the product development and commercialization teams, as well as cultivate partnerships with key clients and evaluate potential business opportunities.
Prior to his new CRO role, Grossman served as chief growth officer at YumEarth, where he led sales and brand development for the organic confection brand. His background includes sales and management positions at Ford Gum and Machine Co., New Era Brands, Imaginings 3 (Flix Candy), and Ragolds.
Grossman is well respected and active in the industry, having served the National Confectioners Association on committees for the Sweets & Snacks Expo and NCA Trade Relations.
Béquet Confections is the nation’s premier gourmet caramel company, honored with 12 prestigious national awards recognizing its uncompromising commitment to quality. Based in Bozeman, Mt., Béquet Confections launched in 2001 by Robin Béquet at the encouragement of friends and family who couldn’t get enough of her gourmet caramel. In 2019, Béquet Confections joined the Life is Sweet family of brands.
Today, Béquet Gourmet Caramel is found in leading grocery and club stores, online and in thousands of specialty and gourmet shops across the country. For more information, visit www.BequetConfections.com.
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UPSIDE Foods Sues Florida Over Cultivated Meat Ban
The Institute for Justice, a nonprofit, public interest law firm, filed a lawsuit challenging a newly enacted Florida law that bans the production, distribution, and sale of cultivated meat, which allows consumers to enjoy the taste of meat grown directly from real animal cells, without the need to raise or kill animals.
The lawsuit, which was filed in the U.S. District Court for the Northern District of Florida, argues that Florida’s ban violates the Constitution’s provisions that prohibit protectionist measures designed to favor in-state businesses at the expense of out-of-state competitors. By targeting cultivated meat, which is produced outside Florida, the law seeks to protect local meat producers from competition, undermining the principles of a national common market.
“If some Floridians don’t like the idea of eating cultivated chicken, there’s a simple solution: Don’t eat it.” said Paul Sherman, a senior attorney at the Institute for Justice. “The government has no right to tell consumers who want to try cultivated meat that they’re not allowed to. This law is not about safety; it’s about stifling innovation and protecting entrenched interests at the expense of consumer choice.”
To bring this lawsuit, IJ partnered with UPSIDE Foods, a pioneering company in the field of cultivated meat. Founded by cardiologist Dr. Uma Valeti, UPSIDE Foods was born out of a transformative experience Valeti had while running a student kitchen in college. When he needed to buy meat at a slaughterhouse, he was profoundly dismayed to see animals suffer.
Vowing to find a more humane and sustainable way to produce meat, he established UPSIDE Foods in 2015, which now produces chicken meat grown directly from real chicken cells. This innovative process allows UPSIDE Foods to produce meat without the need for raising and slaughtering animals, providing a cruelty-free alternative that maintains the taste and texture of conventional meat. In fact, UPSIDE’s chicken is cooked and prepared the same way as conventional chicken.
UPSIDE’s chicken has been given a green light by both the FDA and USDA, affirming its safety and quality. And because it is cultivated in a controlled environment, the process has the potential to reduce the risk of food borne illnesses, contaminations, and other issues present in modern animal agriculture.
“Anyone who wants to try cultivated meat should have the opportunity to do so,” said Valeti. “Our mission is to offer a delicious, safe, and ethical alternative to conventional meat, and we believe Floridians deserve the freedom to make their own food choices. Cultivated meat represents a significant advancement in food technology with the potential to improve supply chain resilience and we are committed to making it available to all.”
On May 1, Florida Gov. Ron DeSantis signed SB 1084, banning the manufacture, sale, or distribution of cultivated meat in Florida. It went into effect on July 1, 2024. In a statement announcing the law, Florida Commissioner of Agriculture Wilton Simpson made its protectionist motivations clear, saying: “We must protect our incredible farmers and the integrity of American agriculture . . . . Together, we will keep Florida’s agricultural industry strong and thriving.” Gov. DeSantis said cultivated meat “is designed to be a threat to agriculture as we know it. . . . [W]e’re snuffing this out at the beginning.”
“For the same reason that California cannot ban orange juice made from oranges grown in Florida, Florida cannot ban UPSIDE’s meat,” explained IJ Attorney Suranjan Sen. “A major purpose for enacting the Constitution was to prevent exactly this kind of economic protectionism, ensuring that all Americans can benefit from a free and open national market. Florida cannot ban products that are lawful to sell throughout the rest of the country simply to protect in-state businesses from honest competition.”
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