Gavan Technologies, an innovative food company based in Israel has secured $8 million in a Series A funding round led by Israel’s MoreVC, with participation from Lever VC, a global leader in food and agri-tech investment; EIT Food, a European Union-supported platform for sustainable food innovations; and DarkBoot Group, a private equity firm involved in Gavan’s incubation.
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The funding will be used for the creation of the new pilot production facility in Europe and the growth of Gavan’s commercial network in Europe concentrated on the bakery and dairy industries. A site to start operations by April 2025 has been proposed to have a super-modern production line for Gavan’s fat substitute.
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“This funding round opens the door for Gavan to enter the European food market, where we can quickly make a positive impact. Our new, fully EU-certified facility is planned to go commercial as early as April next year,” said Itai Cohen, Gavan’s co-founder and CEO.
About Gavan Technologies
Founded in 2018 by Itai Cohen, Allen Hazan, and Udi (Buri) Jeremias, Gavan’s experts are driven by a deep-rooted commitment to a better quality of food through unlocking plant resources and doing so without harming the environment.
Gavan applies groundbreaking proprietary technology to harness the power of nature and identify and develop functional ingredients that can be used in food productions that traditionally require animal-derived proteins.
