Brevel, an Israeli startup specializing in microalgae-based alternative protein, has raised $18.5 million in seed funding. The company’s innovative technology combines sugar-based microalgae fermentation with high light concentrations at industrial scales to produce a unique protein.
Food manufacturers can easily incorporate this protein into various plant-based products, offering a competitive edge over traditional plant-based protein sources like soy. The funding round was led by NevaTeam Partners and received support from the European Union’s EIC Fund, other food and climate funds, and strategic partners within the food industry.
The funds raised are earmarked to propel Brevel’s vision of sustainable nutrition for the future. The company’s technology enables the cost-efficient production of high-quality protein extracted from microalgae, which is crucial for sustainable food production’s future. Brevel’s approach minimizes environmental impact, as microalgae are not influenced by weather fluctuations, climate change, or seasonal variations, and the company’s processes enable full water recycling and utilize on-site clean energy. Currently operating a large-scale 500-liter pilot in Israel, Brevel is transitioning into its first commercial-scale factory equipped with a pioneering 5,000-liter fermentation and light system.
Brevel’s seed funding totaled $18.5 million, including $8.4 million converted from grants and convertible loans into shares. The company, founded in 2017 by the Golan brothers, primarily targets the dairy alternative sector, which faces challenges in protein content. Unlike other plant-based protein sources that may exhibit allergenic properties or overwhelming flavors, Brevel’s protein can be incorporated without compromising taste, color, or cost. The first products incorporating Brevel’s protein are expected to be on shelves during 2024, marking a significant step towards integrating sustainable and affordable protein solutions in the global food industry.