Joywell Foods, a developer of sweet proteins through the microbial fermentation of plant-derived sweet proteins, has raised US$25 million series B funding round, which includes the Kirin Health Innovation Fund among its investors.
The California, US-headquartered start-up plans to accelerate R&D and scale for commercialization across its entire sweet protein platform – deemed identical to proteins found in flavorful exotic fruits.
“Worldwide, consumers love their sweets; we want people everywhere to have their cake and eat it too,” says Joywell Foods CEO Ali Wing.
“Novel proteins that are sweet change the game for consumers – great-tasting, healthy and good for the climate all in one.”
Nature-identical to exotic proteins
Joywell Foods utilizes a proprietary microbial fermentation process to produce nature-identical sweet proteins found in exotic fruits and berries.
These sweet proteins are highly functional at mimicking the taste of sugar, however as proteins, they don’t impact blood sugar levels or gut microbiomes.
Over the past 12 months, Joywell Foods has scaled its sweet protein platform across multiple proteins, developing consumer products – such as lemon lime, cherry ginger and mint berry flavored beverages – and gearing up for launch.
“Since they are 2,000 to 5,500 times sweeter than sugar on a weight basis, a little goes a long way, making sweet proteins a very efficient solution,” the company details. “Sweet proteins have profound implications not only for people’s health but also for the planet.”
Every one percent reduction in sugar production results in approximately 650,000 acres of sugar cane fields saved. Joywell's low carbon footprint, and health-forward, naturally-fermented sweet proteins directly support less deforestation and healthier ecosystems.
“Traditional sugar is not only the chief culprit in our battle with obesity and diabetes, but it also requires millions of acres of land impacting precious ecosystems,” comments Adzmel Adznan, partner and co-founder at Piva Capital.
It is previously caught up with the company in an in-depth interview examining the applicability of the sweet protein across wide-ranging traditional CPG categories.
Entering next generation of sweeteners
Data from Innova Market Insights shows that utilization of sweeteners is on the rise. The use of sweeteners in F&B launches increased globally by +3% year-over-year when compared with 2020 and 2021 launches.
Currently, thaumatin is the only globally-used sweet protein found in hundreds of food products. However, the usage of this protein is hampered by its price, lack of supply and taste-profile, as well as shelf life and stability limitations in some applications.
Amai Proteins specializes in “sweet designer proteins” used as sugar substitutes. In comparison to other known sweet proteins, the company claims its protein can offer 30 to 70% sugar reduction without hampering the full-sugar sensory profile. It previously partnered with Ocean Spray to roll out a cranberry juice that features roughly 40% less sugar.
Earlier this year, Sweegen rolled out its newest advancement in sweetening solutions, the high-intensity sweetener brazzein, branded Ultratia. Brazzein is 500 to 2,000 times sweeter than regular sugar and low-calorie, making it an excellent alternative to sugar, artificial sweeteners and old generation nature-based sweeteners such as stevia rebaudioside A.
The upcycling trend is also expanding within the sweetener space. Finnish confectionery brand Fazer, for instance, is upcycling oat hulls generated at its mills to create xylitol, a sugar replacer with 40% fewer calories (2,4 kcal/g) starting its commercial production.
