Brevel Raises $18.5M to Fuel the Plant-Based Sector with Sustainable Microalgae Proteins
Summary
Subscribe today and enjoy a wide range of exclusive perks to gain a competitive edge in the vegan business world!Israeli fermentation company Brevel announces it has closed an $18.5 million seed funding round to produce and launch into the market its microalgae-based proteins suitable for F&B plant-based applications.Established in 2016 by three brothers, Yonatan (CEO), Matan (COO), and Ido Golan (CTO), Brevel has developed a sugar-based fermentation tech that uses microalgae and light in industrial-scale systems to produce sustainable and functional proteins without using agricultural land.NevaTeam Partners and the European Unions EIC Fund backed Brevel in this round. In June 2022, Brevel received funding from the EUs Horizon 2020 program and Israels Innovation Authority in the form of non-dilutive grants.This substantial funding round will fuel Brevels journey forward and pave the way for our vision of sustainable nutrition for the future of our planet to materialize. A total capacity of 900,000 L is set to be finished by 2025.Brevel produces at cost parity with protein, such as peas and soy. But since its advantageous tech creates proteins and coproducts such as fats, colors, and more, Brevel attains almost triple the profitability from the same microalgae.Regarding sustainability, the food tech claims its process has the minimum environmental footprint possible since it does not require arable land, recycles 100% of the water, and uses on-site clean energy. Brevels ingredients can solve the flavor, protein, and color challenges of this category that depends on soy or other strongly flavored proteins to enhance the nutritional content of cheese, yogurts, and creams.For example, Vgarden and Brevel have been collaborating to develop a new category of high-protein plant-based cheese, confident that they will revolutionize the industry.