Brevel expands Seed round to $25M to advance microalgae protein production | CTech
Summary
The current expansion is based on exercises of warrants the investors were granted in the initial closing of the Seed round in June 2023 by existing backers including NevaTeam Partners, Siddhi Capital, the European Unions EIC Fund, Good Protein Fund, The Food Tech Lab, and PVS Investments. Our vision as a climate food-tech startup is to reduce the carbon footprint to minimum by developing affordable, flavor-neutral microalgae protein at global scales for consumers. By integrating light, Brevel has optimized the process to produce a white, neutral-flavored microalgae protein isolate with exceptional functionality for meat and dairy alternatives.While the fermentation process reduces costs, the light in our proprietary technology enables us to increase bottom-line results since we produce, in addition to the protein, functional oil with potent emulsifying properties, antioxidants as valuable food supplements, and nutritional fibers for food applications, added Golan. We plan to roll-out the next products in line this summer.The companys business model maximizes every component of the microalgae biomass, generating revenue from protein, functional oils, antioxidants, and fibers. This new capital will help Brevel expand commercial activities, establish joint manufacturing ventures, and sign additional supply agreements as it prepares for large-scale production.