Foodtech startup Gavan raises $8 million Series A to commercialize plant-based fat
Foodtech startup Gavan raises $8 million Series A to commercialize plant-based fat
The Israeli company is establishing a new European facility for commercial production of its plant-based Fatrix fat.
FoodTech startup Gavan Technologies has raised $8 million in a Series A funding round. The funding round was 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.
Gavan was founded in 2018 by Itai Cohen (CEO), Allen Hazan (Head of Innovation), and Udi (Buri) Jeremias (Head of Culinary), and previously raised $2.5 million in Seed funding.
The proceeds will be used to establish a new pilot production facility in Europe and expand Gavan’s commercial presence in Europe with focus on the bakery and dairy sectors. The site, planned to commence operations in April 2025 will feature a state-of-the-art production line for Gavan’s alternative fat solution.
The company’s plant protein-based fat solution Fatrix is designed to help food manufacturers reach a superior nutriscore for their product by reducing total fat and especially saturated fat content. Using Fatrix as a fat source reduces dependency on animal fats and cleans the label from undesired emulsifiers.
Fatrix is a multifunctional plant-based all-natural fat formula composed of three ingredients: protein isolate, vegetable oil, and water, formulated into a high-performance gel.
Gavan’s patented technology enables the protein to perform as an optimal binder for the water and oil. According to the company, this results in a smooth, stable, and flavorless emulsion. It also has a very low content of saturated fats and zero trans fats as it is not hydrogenated. Fatrix is already approved for market, and does not require novel foods regulatory approval.
“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.
