Brevel, an Israeli microalgae-based alternative protein company, has secured $8.4 million in a seed funding round as it looks to scale its proprietary technology.
Investors in the funding round included FoodHack, Good Startup VC, Tet Ventures and Nevateam Ventures among others from the food tech industry. The round also includes grants from the EU’s Horizon2020 programme and Israel’s Innovation Authority.
Brevel has designed a proprietary technology that enables the growth of high-quality, non-GMO microalgae. Its technology, which enables the production of sustainable proteins, has cost levels comparable to pea and soy and its end product is both flavour and colour neutral.
Brevel says its technology is the “first globally” to combine sugar-based fermentation of microalgae with a high concentration of light at industrial scales.
Yonatan Golan, CEO and co-founder of Brevel, said: “For the first time Brevel will be providing a truly sustainable solution which is not only tasty and blends perfectly into different food applications to increase their nutritional value, but is also at an affordable cost which puts it on the path for global-scale mainstream adoption”.
The funding will be used to scale-up Brevel’s proprietary technology, as well as enhance its research and development capabilities.
© FoodBev Media Ltd 2022
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