Brevel expands Seed round to $25M to advance microalgae protein production
The Israeli climate foodtech company develops microalgae-based protein for food and beverage applications.
Brevel, an Israeli climate foodtech company, has expanded its Seed round to $25 million following an additional $5 million investment. This funding will accelerate its market strategy and further develop its microalgae-based protein for food and beverage applications. 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 Union’s EIC Fund, Good Protein Fund, The Food Tech Lab, and PVS Investments. New investors also participated under the same terms.
“Our investors chose to reinvest, based on Brevel’s impressive progress following the last round,” said Yonatan Golan, co-founder and CEO at Brevel. “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.”
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Brevel team from left to right: Ido Golan, CTO, Matan Golan, COO,Yonatan Golan, CEO
(Photo: Aviram Waldman)
Brevel’s technology combines light and sugar-based fermentation in indoor bioreactors, a unique approach that enhances both yield and nutritional value. Traditionally, fermentation occurs in darkness, producing microalgae at high volumes but with limited commercial value. 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. “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.”
The company’s 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. “The decision to exercise their warrants is a strong vote of confidence in Brevel’s mission and execution,” added Shai Levy, Partner at NevaTeam Partners and a Brevel board member. “We believe their technology will play a pivotal role in shaping the future of alternative proteins.”
Brevel was founded by three brothers: Yonatan, Ido, and Matan Golan. It addresses the expanding demand for nutritious, eco-friendly, and affordable alternatives to animal protein and its patented technology combines a fermentation process using light to cultivate microalgae, which is then converted to a concentrated, nutritious whole-protein powder.
