Israeli climate foodtech company Brevel has raised an additional $5 million, bringing its Seed round total to $25 million.
This funding will help accelerate Brevel’s market strategy and further develop its microalgae-based protein for food and beverage products.
The additional investment comes from existing backers, including NevaTeam Partners, Siddhi Capital, the European Union’s EIC Fund, Good Protein Fund, The Food Tech Lab, and PVS Investments, along with new investors joining under the same terms. The investment follows the initial closing of the Seed round in June 2023.
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It’s business model maximizes every part of the microalgae biomass, generating revenue from protein, oils, antioxidants, and fibers. The new capital will support Brevel’s commercial growth, joint manufacturing partnerships, and new supply agreements as it prepares for large-scale production.
It’s unique technology uses light and sugar-based fermentation in indoor bioreactors to boost both yield and nutrition. Unlike traditional fermentation which occurs in darkness, Brevel’s method produces a white, neutral-flavored microalgae protein isolate that is ideal for meat and dairy alternatives.
“Our investors chose to reinvest, based on Brevel’s impressive progress following the last round. We are dedicated to delivering nutritious protein that can replace animal protein in formulations. 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. It ticks all the boxes: it’s good for the people, good for our customers, and good for the planet,” said Yonatan Golan, co-founder and CEO at Brevel.
“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. Through this wide portfolio we can achieve overall price parity for our superior protein as well as for each co-product. We plan to roll-out the next products in line this summer,” added Golan.
“The decision to exercise their warrants is a strong vote of confidence in Brevel’s mission and execution. We believe their technology will play a pivotal role in shaping the future of alternative proteins,” said, Shay Levy, Partner at NevaTeam Partners and a Brevel board member.
About Brevel
Founded in 2017 by Yonatan Golan, Ido Golan and Matan Golan, Brevel is addressing the growing demand for nutritious, eco-friendly, and affordable alternatives to animal protein with its patented process to produce concentrated, nutritious whole-protein powder.
