Tel Aviv, June 2, 2022 – Brevel, the leading microalgae-based alternative protein company, today announced it has raised $8.4M in a Seed funding round. The funding will be utilized to build a commercial pilot factory which will serve as the basis for scaling Brevel’s proprietary technology and enhancing R&D capabilities. The alternative-protein’s dedicated investors include FoodHack, Good Startup VC, Tet Ventures and Nevateam Ventures among other prominent investors from the food tech industry. The round also includes significant funding from the EU’s prestigious program Horizon2020 and Israel’s Innovation Authority in the form of non-dilutive grants.
Founded in 2017, Brevel is actively working to solve the biggest nutrition challenges that exist today. The company is achieving this by providing truly sustainable plant-based protein which is both color and flavor neutral, and available the first time at an affordable cost for the food industry. Brevel uses non-GMO microalgae grown in a unique breakthrough technology which enables the highest quality of sustainable protein production at cost levels comparable to pea and soy, the leading sources of plant based protein today.
The current alternative protein market has many problems when it comes to cost, flavor, functionality, quality and sustainability. Microalgae are the ultimate source of protein in terms of sustainability, but unfortunately the existing options for microalgae as an alternative protein have very high costs and flavor barriers. Brevel’s solution for microalgae-based protein has managed to solve these challenges.
Brevel’s technology is the first globally to combine sugar-based fermentation of microalgae with a high concentration of light at industrial scales. The result is a protein that will be price competitive with pea and soy and is color and flavor neutral. Brevel’s protein solves immediate challenges in plant-based dairy and egg products that lack a valuable nutritional profile due to the need for very mildly flavored protein sources. Due to the high nutritional values and sustainable production in the mid and long terms, Brevel is aiming to become the #1 choice for plant-based protein worldwide.
“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.” said Yonatan Golan, CEO and Co-Founder of Brevel. “As early as Q4 2022, Brevel’s first commercial factory will provide a solution that the food industry has been waiting for for too long”.
"Seeing Brevel's achievements over the last few years, we are convinced that Brevel not only has great product-market fit, but that they have what it takes to become a market leader,” said Arman Anaturk, CEO and Co-Founder of FoodHack. “Brevel's scalable solution has the potential to help millions of people around the world eat dairy-free products that have excellent nutritional values at the right price. Our decision to invest in Brevel is an easy one and we are pleased to support Yonatan and his team on the journey."
Brevel’s technology is based on high-tech indoor, sterile and fully automated systems which are illuminated from within at high intensity. The unique process enables the production of microalgae at a cost reduction of more than 90% and includes nutrient rich ingredients and functionalities that are only produced in the presence of light. Now with the closing of their Seed funding round, conditions are finally ripe for the next stage of mass production.
Brevel is providing microalgae based alternative protein which is affordable, flavor and color neutral, highly functional, sustainable and at consistent and scalable production. Thanks to Brevel’s unique proprietary technology breakthrough the future of nutrition will be sustainable at global scales.
Brevel was founded in Israel in 2017 and has received $8.4M to date, including equity and non-dilutive grants such as the prestigious Horizon2020 grant. Brevel was founded by three brothers Yonatan (CEO), Matan (COO) and Ido (CTO) Golan.
For further information please contact:
Mira Marcus | PR for Brevel | [email protected]