David<\/a>\u2014a protein-packed bar brand built by RXBAR founder Peter Rahal<\/a>\u2014has raised $75 million in a Series A round. The bulk of the capital will be used to fund the acquisition of Epogee<\/a>, a foodtech startup making a plant-based oil called EPG<\/a> that looks and behaves like fat but contains a fraction of its calories.<\/p>\n The round, which was led by Greenoaks<\/a> with participation from Valor Equity Partners<\/a>, brings David\u2019s post-money valuation to $725 million and will also fund its rapid expansion across multiple channels and ongoing innovation work, said Rahal, who launched David last September and is predicting revenues of $140 million in year one.<\/p>\n \u201cI think that probably makes us one of the fastest growing food brands in history.\u201d<\/p>\n To make EPG (esterified propoxylated glycerol), which can be listed on food labels as \u2018EPG (modified plant-based oil),\u2019 Epogee splits plant-based oils such as canola into glycerin and fatty acids, inserts a food-grade link, and reconnects them.<\/p>\n As EPG is resistant to lipase, an enzyme that breaks down fat in the body, hardly any of its calories are released. For context, 1g of fat contains 9 calories, while 1g of EPG contains just 0.7 calories.<\/p>\n This proved highly appealing to a brand such as David, which seeks to reduce the percentage of energy coming from fats and carbohydrates in its protein-fueled bars.<\/p>\n Unlike Olestra, which had a lower melting point (and messy side effects) or fat replacers made from sugars, gums, starches or fibers, EPG functions like fat both in food products and in the human body because it\u2019s made from fat, Rahal told AgFunderNews<\/em>.<\/p>\n \u201cDavid accounts for about 90% of Epogee\u2019s revenue, so securing supplies of EPG is mission critical for us. We wanted to de-risk things and control the supply to ensure we have enough EPG to support our business and our growth as our demand occupies all of Epogee\u2019s capacity for the short term.<\/p>\n \u201cAcquiring Epogee also really widens the aperture of our vision and our ability to address consumer different consumer needs across different populations.\u201d<\/p>\n David will retain Epogee\u2019s team and run it at arm\u2019s length as a subsidiary, he said. \u201cBut given our growth, we need it to be serving David as a customer.\u201d<\/p>\n While protein is trending across multiple food categories, David has been laser-focused on developing formulations that ensure the bulk of calories (75%) come from protein, said Rahal.<\/p>\n While this means using some ingredients that might not belong in Grandma\u2019s kitchen cupboard, from EPG to sucralose, allulose, and maltitol, David\u2019s success demonstrates that consumers will tolerate so-called \u201cultra-processed\u201d foods if they see a clear benefit, he claimed.<\/p>\n \u201cWe advocate a balanced whole food diet, but our products are tools enabling you to get your protein without big caloric consequences. People don\u2019t want to eat too many calories or spike their blood sugar in order to get the protein they need.\u201d<\/p>\n Like many protein-fueled brands, David has also been able to tap into the GLP-1 craze, as people on these medications are especially concerned about losing lean muscle mass, he said.<\/p>\n \u201cIf you take GLP-1, your doctor\u2019s advice is do resistance training and eat adequate amounts of protein. Our value proposition is totally aligned with this messaging.\u201d<\/p>\n David began life online as a direct-to-consumer brand, expanded onto Amazon, and is now building a presence in brick-and-mortar retail, said Rahal.<\/p>\n![\"](\"https:\/\/agfundernews.com\/wp-content\/uploads\/2025\/05\/David-protein-bars-Image-credit-David.jpg\")
EPG: Looks and behaves like fat, with a fraction of the calories<\/strong><\/h4>\n
![\"epogee](\"https:\/\/agfundernews.com\/wp-content\/uploads\/2025\/05\/epogee-fats.jpg\")
Ultra-processed food?<\/strong><\/h4>\n
The TikTok effect<\/strong><\/h4>\n