Food technology company Gavan Technologies has raised an $8 million Series A. This new funding round will enable Gavan to enter the European food market with its plant protein-based fat solution, Fatrix. MoreVC led the round, which also included participation from Lever VC, EIT Food, and DarkBoot Group.
The proceeds from this funding will be used to establish a new pilot production facility in Europe and expand Gavan’s commercial presence in Europe, focusing on the bakery and dairy sectors. The site, which is planned to start operations in April 2025, will feature a state-of-the-art production line for Gavan’s alternative fat solution.
Fatrix was designed to help food manufacturers reach a superior nutriscore for their products by reducing total fat, especially saturated fat content. Using Fatrix as a fat source reduces dependency on animal fats, awards exceptional sensory value, and cleans the label from undesired emulsifiers.
Fatrix is a multifunctional plant-based fat developed by the food technology innovators at Gavan. It can act as a one-to-one replacement for butter in a comprehensive range of bakery products and dairy alternatives. Its all-natural fat formula comprises three simple 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 water and oil. 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 has already been approved for market and does not require regulatory approval for novel foods.
Fatrix is a scalable and cost-efficient fat solution that has demonstrated its capacity for creating buttery sensations across multiple bakery products like brioche and croissants. And it adds functional value to dairy analogs such as whipping creams, cooking creams, cream cheeses, and puddings without adding thickeners or stabilizers. It also allows for cleaner, more consumer-friendly labels.
Gavan’s zero-waste platform is compatible with a wide range of plant-based oils and legumes, enabling it to provide tailored solutions to meet specific customer preferences or application requirements.
KEY QUOTES:
“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.”
“It is neutral in flavor, odorless, and highly versatile, making it possible to create any texture required. It maintains stability and water- and fat-holding capacity even under processing conditions of high heat and physical pressure.”
- Itai Cohen, Gavan’s co-founder and CEO
“Fat plays an essential role in the creation of almost all foods. It gives depth to flavors, elevates textures, and enhances the dining experience in general. The food industry is in need of a plant-based fat that can provide the same indulgent flavor and mouthfeel as butter, while supporting sustainability and personal well-being. Gavan’s unique fat creation platform is market-ready and has the potential to make a truly meaningful contribution to the USD253B fats and oils market.”
- Rony Patishi-Chillim, Venture Partner of MoreVC
“As early investors in the alternative protein space, we’ve evaluated countless fat solutions aiming to replace butter or animal fats. Gavan’s platform stands out as the most compelling, offering a unique ability to partner with large corporates while achieving capital-efficient scaling and competitive unit economics. These qualities position Fatrix as a game-changer in the move towards healthier and cleaner-label foods.”
- James Caffyn, Partner at Lever VC
