Medici Brands Secures $250M Series B, Valued at $2.25 Billion
September 10, 2026, 9:31 pm
Medici Brands, the innovative food tech company behind David Protein, recently secured a massive $250 million Series B funding round. This elevated its valuation to $2.25 billion. The fresh capital fuels an ambitious growth strategy: expanding its high-protein David Protein line, launching low-calorie candy brand HallPass, and introducing Rowdy chips. Medici relies on its proprietary Epogee (EPG) fat substitute technology to create "smarter" packaged foods, aiming for significant market disruption. However, the company faces ongoing legal disputes concerning competitor access to its critical EPG ingredient. Despite legal challenges, Medici maintains a clear vision: making healthier, great-tasting options more accessible nationwide and expanding its retail presence across 35,000 locations.
Medici Brands is reshaping the packaged food landscape. A recent $250 million Series B funding round validates its aggressive approach. This investment propels the company's valuation to $2.25 billion. Greenoaks and Valor Equity Partners co-led the round. Key participants included Peter Rahal, ICONIQ, and Imaginary Ventures. This capital infusion targets rapid expansion.
The company's mission is clear. Medici creates consumer brands. These brands offer improved nutritional profiles. They empower packaged foods. David Protein is its flagship. This brand delivers high-protein bars, frozen desserts, and shakes. HallPass is another innovative offering. It focuses on lower-calorie confectionery. A new chip brand, Rowdy, also joins the portfolio. Medici’s growth began in 2024. Its Series A round in 2025 totaled $75 million.
At the core of Medici's innovation lies Epogee (EPG). This proprietary plant-based fat substitute is revolutionary. EPG functions like traditional fat. Yet, it delivers only 0.7 calories per gram. Regular fat provides 9 calories per gram. EPG resists lipase. This enzyme typically breaks down fat. Consequently, fewer calories are absorbed. Medici acquired Epogee in May 2025. This acquisition secured crucial supply chain control. It solidified Medici’s technological advantage. EPG allows products to maintain great taste. They also boast superior nutritional stats.
David Protein exemplifies this strategy. Its Gold bar packs 28 grams of protein. It contains only 150 calories. The brand utilizes EPG. It also incorporates low- and no-calorie sweeteners. David Protein started direct-to-consumer. It quickly expanded into brick-and-mortar retail. Over 35,000 stores now carry its products. These include Walmart, Target, and Costco. David Protein moved beyond bars. It launched frozen desserts in July. Ready-to-drink protein shakes followed in August.
HallPass is Medici’s entry into candy. It promises "permission granted" indulgence. This brand also leverages EPG. It targets low-calorie, low-sugar propositions. Consumers desire tasty candy. They also want fewer calories and less sugar. HallPass meets this demand without a premium price. The brand appeals to current candy lovers. It also attracts lapsed shoppers. Walmart is a key launch partner. HallPass will see national distribution. Independent retailers in NYC and LA will also carry it. A direct-to-consumer site supports the launch.
CEO Peter Rahal drives Medici's vision. He previously founded RXBAR. Rahal anticipates strong financial performance. He projects over $300 million in revenues for 2026. David Protein is expected to achieve profitability in 2026. The new capital fuels diverse initiatives. It supports HallPass’ retail expansion. It extends David Protein into new formats. It advances product innovation. It also builds infrastructure for new brand launches. Rowdy chips are a prime example.
Medici addresses the "ultra-processed" food debate directly. The company uses ingredients like EPG, sucralose, allulose, and maltitol. Some critics label these "ultra-processed." Rahal asserts a different perspective. Medici does not tell people to avoid favorite foods. Instead, it makes those foods "smarter." This means lower calories, less sugar, and no taste compromise. Medici believes this improves public health. The market will see a broader discussion on "ultra-processed" definitions. Rahal acknowledges this.
Marketing efforts focus on clear benefits. Highlighting protein, calories, and sugar proves effective. The protein-to-calorie ratio is a powerful message. Consumers value protein. They exhibit less price sensitivity for it. Protein is considered the most valuable macronutrient. This trend benefits Medici. It also resonates with GLP-1 medication users. These consumers prioritize protein intake.
However, Medici faces significant legal challenges. The company is embroiled in a high-profile legal spat. This concerns access to EPG. After acquiring Epogee, Medici limited EPG supply. It cut off other customers. Three former customers filed a lawsuit. OWN Your Hunger, Lighten Up Foods, and Defiant Chocolate accuse Medici of anti-competitive behavior. They claim Medici created an artificial monopoly. The lawsuit, filed in June 2025, remains ongoing.
Lighten Up Foods recently settled its claims. The founder received a supply agreement. This allows him to resume production of an EPG-based sauce. Social media buzz suggested EPG was "freed" for everyone. This interpretation is inaccurate. The settlement was private. It does not ensure broad access.
OWN Your Hunger and Defiant Chocolate continue their lawsuit. They assert the anti-competitive harm persists. The litigation targets Medici Brands, Epogee, and Peter Rahal. It focuses on the alleged monopolization of EPG. The greatest impact falls on the high-protein bar market. Defiant Chocolate confirms no response from Medici regarding settlement. They pursue the lawsuit.
Medici maintains its position. It asserts patent owners can choose customers. They can sell EPG only to non-competitors. They can also refuse sales entirely. Medici also claims an "abundance" of EPG alternatives exist. Former Epogee customers provided sworn statements. They outlined harm suffered from losing EPG access. The legal battle highlights ingredient access challenges for startups.
Despite these hurdles, Medici's trajectory is upward. Its innovative use of EPG defines its products. The company plans further product innovation. It also eyes a B2B strategy for EPG. This would involve pitching the alt-fat to large CPG companies. Medici Brands is poised for continued disruption. Its focus remains on smarter, healthier, and great-tasting packaged foods. The market watches its next moves.
Medici Brands is reshaping the packaged food landscape. A recent $250 million Series B funding round validates its aggressive approach. This investment propels the company's valuation to $2.25 billion. Greenoaks and Valor Equity Partners co-led the round. Key participants included Peter Rahal, ICONIQ, and Imaginary Ventures. This capital infusion targets rapid expansion.
The company's mission is clear. Medici creates consumer brands. These brands offer improved nutritional profiles. They empower packaged foods. David Protein is its flagship. This brand delivers high-protein bars, frozen desserts, and shakes. HallPass is another innovative offering. It focuses on lower-calorie confectionery. A new chip brand, Rowdy, also joins the portfolio. Medici’s growth began in 2024. Its Series A round in 2025 totaled $75 million.
At the core of Medici's innovation lies Epogee (EPG). This proprietary plant-based fat substitute is revolutionary. EPG functions like traditional fat. Yet, it delivers only 0.7 calories per gram. Regular fat provides 9 calories per gram. EPG resists lipase. This enzyme typically breaks down fat. Consequently, fewer calories are absorbed. Medici acquired Epogee in May 2025. This acquisition secured crucial supply chain control. It solidified Medici’s technological advantage. EPG allows products to maintain great taste. They also boast superior nutritional stats.
David Protein exemplifies this strategy. Its Gold bar packs 28 grams of protein. It contains only 150 calories. The brand utilizes EPG. It also incorporates low- and no-calorie sweeteners. David Protein started direct-to-consumer. It quickly expanded into brick-and-mortar retail. Over 35,000 stores now carry its products. These include Walmart, Target, and Costco. David Protein moved beyond bars. It launched frozen desserts in July. Ready-to-drink protein shakes followed in August.
HallPass is Medici’s entry into candy. It promises "permission granted" indulgence. This brand also leverages EPG. It targets low-calorie, low-sugar propositions. Consumers desire tasty candy. They also want fewer calories and less sugar. HallPass meets this demand without a premium price. The brand appeals to current candy lovers. It also attracts lapsed shoppers. Walmart is a key launch partner. HallPass will see national distribution. Independent retailers in NYC and LA will also carry it. A direct-to-consumer site supports the launch.
CEO Peter Rahal drives Medici's vision. He previously founded RXBAR. Rahal anticipates strong financial performance. He projects over $300 million in revenues for 2026. David Protein is expected to achieve profitability in 2026. The new capital fuels diverse initiatives. It supports HallPass’ retail expansion. It extends David Protein into new formats. It advances product innovation. It also builds infrastructure for new brand launches. Rowdy chips are a prime example.
Medici addresses the "ultra-processed" food debate directly. The company uses ingredients like EPG, sucralose, allulose, and maltitol. Some critics label these "ultra-processed." Rahal asserts a different perspective. Medici does not tell people to avoid favorite foods. Instead, it makes those foods "smarter." This means lower calories, less sugar, and no taste compromise. Medici believes this improves public health. The market will see a broader discussion on "ultra-processed" definitions. Rahal acknowledges this.
Marketing efforts focus on clear benefits. Highlighting protein, calories, and sugar proves effective. The protein-to-calorie ratio is a powerful message. Consumers value protein. They exhibit less price sensitivity for it. Protein is considered the most valuable macronutrient. This trend benefits Medici. It also resonates with GLP-1 medication users. These consumers prioritize protein intake.
However, Medici faces significant legal challenges. The company is embroiled in a high-profile legal spat. This concerns access to EPG. After acquiring Epogee, Medici limited EPG supply. It cut off other customers. Three former customers filed a lawsuit. OWN Your Hunger, Lighten Up Foods, and Defiant Chocolate accuse Medici of anti-competitive behavior. They claim Medici created an artificial monopoly. The lawsuit, filed in June 2025, remains ongoing.
Lighten Up Foods recently settled its claims. The founder received a supply agreement. This allows him to resume production of an EPG-based sauce. Social media buzz suggested EPG was "freed" for everyone. This interpretation is inaccurate. The settlement was private. It does not ensure broad access.
OWN Your Hunger and Defiant Chocolate continue their lawsuit. They assert the anti-competitive harm persists. The litigation targets Medici Brands, Epogee, and Peter Rahal. It focuses on the alleged monopolization of EPG. The greatest impact falls on the high-protein bar market. Defiant Chocolate confirms no response from Medici regarding settlement. They pursue the lawsuit.
Medici maintains its position. It asserts patent owners can choose customers. They can sell EPG only to non-competitors. They can also refuse sales entirely. Medici also claims an "abundance" of EPG alternatives exist. Former Epogee customers provided sworn statements. They outlined harm suffered from losing EPG access. The legal battle highlights ingredient access challenges for startups.
Despite these hurdles, Medici's trajectory is upward. Its innovative use of EPG defines its products. The company plans further product innovation. It also eyes a B2B strategy for EPG. This would involve pitching the alt-fat to large CPG companies. Medici Brands is poised for continued disruption. Its focus remains on smarter, healthier, and great-tasting packaged foods. The market watches its next moves.