In “Joywell Foods raises $25M to bring sweet proteins to market,” TechCrunch reported the series B funding was led by Piva Capital, with participation from B37 Ventures, Global Brain Corporation, and existing investors Khosla Ventures, Evolv Ventures, Alumni Ventures, and SOSV. The article indicated that once Joywell Foods (SOSV IBSF03 2016) receives regulatory approval, expected this fall, the company will enter the commercialization phase of a line of beverages containing sweet proteins.
Joywell CEO Ali Wing said, “We’re biologically predisposed to crave sugar, so it’s not something we should actually feel so bad about. If you really look at consumption today, over 70% of consumers are actively seeking to reduce sugar in their diets and the No. 1 culprit for that is daily added sugars. We just need to solve it differently, and that’s the beauty of technology and what we are doing.”