FoodTech startup Gavan Technologies, Ltd. announces that it has raised $8 million in funding to change the fat market. This new capital injection will allow Gavan to enter the European food market with its innovative plant-based fat solution, Fatrix®.
Leading Funding
The funding round was led by MoreVC, a leading Israeli venture capital firm, with participation from Lever VC, a global leader in food and agricultural technology investments; EIT Food, a European Union-supported platform for sustainable food innovations; and DarkBoot Group, a private equity firm involved in the incubation of Gavan. Best Restaurants Near Me
Expansion into the European Market
The funds will be used to establish a new pilot production facility in Europe and expand Gavan’s commercial presence in the fat market in Europe, with a focus on the bakery and dairy sectors. The plant, which is planned to begin operations in April 2025, will feature a state-of-the-art production line for Gavan’s alternative fat solution.
Fatrix: Innovation in the Fat Market
Fatrix is designed to help food manufacturers achieve a better nutriscore for their products by reducing the total fat content and especially saturated fat. Using Fatrix as a fat source reduces reliance on animal fats and provides exceptional sensory value, as well as cleaning the label of unwanted emulsifiers.
As Butter
Fatrix is a multifunctional plant-based fat developed by the FoodTech visionaries at Gavan and can act as a one-to-one replacement for butter in a wide range of bakery products and dairy alternatives. Its all-natural formula is made up of three simple ingredients: protein isolate, vegetable oil and water, formulated into a high-performance gel.
Patented Technology
Gavan’s patented technology allows the protein to act as an optimal binder for water and oil, resulting in a smooth, stable and tasteless emulsion. It also has a very low saturated fat content and zero trans fats as it is non-hydrogenated. Fatrix is already approved for the market and does not require novel food regulatory approval.
Future Projections
This round of funding opens the door for Gavan to enter the European food market, where we can make a positive impact quickly.
Our new facility, fully EU certified, is planned to begin commercial operation in April next year.
Says Itai Cohen, co-founder and CEO of Gavan.
Fatrix: Clean and Functional Fat Substitute
Fatrix fills the gap in the fat market for a clean label fat substitute that is desirable, highly functional and affordable. It is neutral in taste, odorless and highly versatile, allowing for the creation of any texture required.
It maintains stability and water and fat holding capacity even under high temperature and physical pressure processing conditions.
Adds Cohen
Fatrix is a scalable and cost-effective fat solution that has proven its ability to create indulgent, buttery sensations in multiple bakery products such as brioches and croissants. It brings functional value to dairy analogues such as whipping creams, cooking creams, cream cheeses and puddings without the need for additional thickeners or stabilizers.
It also enables cleaner, consumer-friendly labels. Gavan’s zero-waste platform supports a wide range of plant-based oils and legumes, allowing it to provide tailored solutions to meet specific customer preferences or requirements.
Role of Fat in Food
Fat plays an essential role in the creation of almost every food. It gives depth to flavors, elevates textures and enhances the overall dining experience.
The food industry requires a plant-based fat that can provide the same indulgent taste and mouthfeel as butter, whilst supporting sustainability and personal wellbeing. Gavan’s unique fat creation platform is market-ready and has the potential to make a truly significant contribution to the $253 billion fats and oils market.
adds Rony Patishi-Chillim, Venture Partner at MoreVC.
Investor Views
As early investors in the alternative protein space, we have evaluated countless fat solutions that seek to replace butter or animal fats.
Gavan’s platform stands out as the most compelling, offering unique capability
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